If I sold a second home at a loss, but I am carrying the note to be paid over 5 years, how do I report the amount of money received for just 1 year?

[MichaelL1]

2nd home sold at a loss is not deductible.  So you would report the interest income only on the note.

[mksears]

Thanks, that was fast!

[MichaelL1]

My pleasure and will put answer below so it might help others also.

[MichaelL1 · Accepted solution]

2nd home sold at a loss is not deductible. 

So you would report the interest income only on the note.