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automan77
New Member

I sold my commercial property on land contract. What tax form do I need to give my buyer or do I need to give him one?

 
1 Reply
Critter
Level 15

I sold my commercial property on land contract. What tax form do I need to give my buyer or do I need to give him one?

If you are holding the mortgage the only thing the buyer needs is a copy of the amortization schedule you agreed on and you both will need each other's Name, address & tax ID# for the reporting of the interest paid on your tax returns since you need to cross reference each other.

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