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Seller Financed Income from Rental Sale for a Trust
Trust owns a seller financed receivable on which payments were received in 2024 related to sales of rental property in 2021. Trying to figure out how to enter this in Turbo Tax Business and Trust version on the trust tax return. First year filing the trust tax return. I entered the sale in the rental property asset and disposal fields of the tax return but since the sale date was 2021 the software was giving me an message stating sale date must be in same filing tax year (2024). Also it doesn't ask me if the sale was seller financed loan. How do I enter the income received in 2024 related to seller financed income in the Turbo tax trust software? Thanks.
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‎April 13, 2025
9:07 AM