I have a similar situation. Turbo tax tells me two different things on if it is an installment sale or just seller finance interest. I am confused. Below is the exact situation.
Wife and I sold our home in 2022 for 360K and carried a 180 K deed of trust for 7 years.
There was zero gain and we should be clear with the 500K exemption and just pay tax on the interest for the loan yearly.
I bought turbo tax early and maybe it is not updated? Please advise! Thank-you !
