I sold 2 rental properties 4-29-2021. We owner carried the note with 25 years installment payments.
I know I have to show the sale of business property below the rents and royalties tab but not in the rents and royalties tab?? although we did not sell a business just a piece of land and a building on an adjacent piece of land. We were paid a down payment minus the legal fees and realtor commission at the sale, then received principal and interest payments through the rest of the year. 1) Do I split the cost of the total amount of the sale price between two properties? WE have had these properties since1991, so I don't know what difference this makes. Is it possible you could actually call and walk me through this?
