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I sold rural land to my Dad for the exact basis and FMV of the land. So there was NO gain and NO loss. I owner financed, which form to report interest received with payme

 
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I sold rural land to my Dad for the exact basis and FMV of the land. So there was NO gain and NO loss. I owner financed, which form to report interest received with payme

I did want to add that I know I can manually enter the interest I received in turbo tax deluxe but I am wondering if any of the other forms such as 6252, 8949, 4797 or Schedule D are required with an owner finance of rural land from one relative to another where No gain and No loss occurred. I figured that 6252 was the most likely if any of them were. But it said not to use that if there was no gain and they had some exceptions for sales between related people. It is so very confusing. Thanks for the help.
bwa
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Alumni

I sold rural land to my Dad for the exact basis and FMV of the land. So there was NO gain and NO loss. I owner financed, which form to report interest received with payme

TurboTax makes it very difficult to enter interest income that you don't receive a Form 1099-INT for, as it assumes all interest is on a Form 1099. However, if you begin the interest income section of the program it gives you options to import interest income from several sources or "I'll type it in myself."  Select the latter.  Enter the amount on the next page which is set up to resemble a Form 1099-INT, but can be used even if you don't receive one.


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