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Can I enter a 1099-S in installment sales or do I have to enter it in investment income? I am receiving payments on most of the total shown on the 1099-S.
I sold a piece of land I owned over 20 years. The buyer paid me a down payment and is making payments over a 5-year period. The 1099-S was for the entire sale amount, but I only received a portion of that money in 2018. Do I have to claim the entire 1099-S amount under Investment sales, or can I use the installment sales option to reflect what I received in 2018?
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‎June 4, 2019
9:24 PM