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Installment Sale with no payment in first year
Sold a piece of commercial property (not a main home) with a closing date in 2021 but received no payments in 2021. The installment Sale proceeds start in 2022. There was no business associated with the commercial property. Do I report any of the sale information in the 2021 tax year or do I wait until the tax year when beginning to receive the installment sales income/payments?
‎April 7, 2022
1:43 PM