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Investors & landlords
You DID SELL the property and you are holding a NOTE on the property (like a mortgage) where you will get payments over more than one tax year ( consisiting of interest and principal). So in the program you will indicate you SOLD the property and choose to report it EITHER as an installment sale form 6252 or in full in the year of sale (even if you will not get all the payments in the current tax year). Look at the options and pick the one that works best for you. If you still need help I highly recommend you seek professional assistance to get this done correctly.
‎June 15, 2023
6:47 PM