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hicks-tax
New Member

I inherited undeveloped property in 2014. In 2018 I began sale of the property, but the sale does not finalize until 2022. When do I file sched D 2018 or 2022?

 
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JulieR
New Member

I inherited undeveloped property in 2014. In 2018 I began sale of the property, but the sale does not finalize until 2022. When do I file sched D 2018 or 2022?

You will report this Installment Sale on your 2018 return. To report an installment sale, begin by typing "installment sales" into the search box and click the "Jump to" link in the search results.  Follow the program prompts to complete your entry.

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JulieR
New Member

I inherited undeveloped property in 2014. In 2018 I began sale of the property, but the sale does not finalize until 2022. When do I file sched D 2018 or 2022?

Was the property sold under a Contract for Deed or Installment Sale?
hicks-tax
New Member

I inherited undeveloped property in 2014. In 2018 I began sale of the property, but the sale does not finalize until 2022. When do I file sched D 2018 or 2022?

Thank you for your response. I believe it would be installment sale as it includes interest over 43 months. 9/18 thru 4/22.
JulieR
New Member

I inherited undeveloped property in 2014. In 2018 I began sale of the property, but the sale does not finalize until 2022. When do I file sched D 2018 or 2022?

You will report this Installment Sale on your 2018 return. To report an installment sale, begin by typing "installment sales" into the search box and click the "Jump to" link in the search results.  Follow the program prompts to complete your entry.

View solution in original post

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