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jrhudson
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I sold a farm for $92,000. I got $52,000 down with the balance to be paid over 2 years. I took a loss of $12,300 as I paid $104,300 for the property. How do I file this?

 
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I sold a farm for $92,000. I got $52,000 down with the balance to be paid over 2 years. I took a loss of $12,300 as I paid $104,300 for the property. How do I file this?

This would be reported in TurboTax under Installment Sales which is located under Less Common Income.

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I sold a farm for $92,000. I got $52,000 down with the balance to be paid over 2 years. I took a loss of $12,300 as I paid $104,300 for the property. How do I file this?

This would be reported in TurboTax under Installment Sales which is located under Less Common Income.

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