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Investors & landlords
I want to make sure I understand correctly.
1. Am I now considered the seller because I inherited the note?
2. Are there any other forms (Fed or State) I need to fill out, i.e. indicating the inheritance?
3. Sounds like I only need to pay tax on the interest portion of the monthly payments? Can you confirm I don't need to pay tax on the principal?
‎February 25, 2021
2:00 PM