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Use the "Installment Sales" interview down near the bottom of the "Wages & Income tab.
Enter the information required on the "Property Description" page and the "Sales Information" page.
Answer "Yes" on the "How Was This Item Used?" and select "No entry" on the "Select Business Activity" page.
"No" on "Passive Activities" page, $0 (I assume) on the "Debt Assumed by Buyer" page and then enter the principal and interest received in 2016 on the "Principal and Interest Received" page.
Leave the "Type of Business Property" boxes blank answer "No" on the "Depreciable Property" page. You'll have to determine how the answer the "Related Party Sale?" page.
Tom Young
Use the "Installment Sales" interview down near the bottom of the "Wages & Income tab.
Enter the information required on the "Property Description" page and the "Sales Information" page.
Answer "Yes" on the "How Was This Item Used?" and select "No entry" on the "Select Business Activity" page.
"No" on "Passive Activities" page, $0 (I assume) on the "Debt Assumed by Buyer" page and then enter the principal and interest received in 2016 on the "Principal and Interest Received" page.
Leave the "Type of Business Property" boxes blank answer "No" on the "Depreciable Property" page. You'll have to determine how the answer the "Related Party Sale?" page.
Tom Young
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