Selling my house on a land contract...20,000 down and 750 per month til balance is paid..how do I enter this info?

[Critter]

This was a Personal residence and if so how long did you live there ?    Did you sell at a profit ?  Was it ever a rental ?

[rivergirl6353]

I bought it in dec of 14..and began the contract aug of 16..lived there til june of 16...selling it at a loss...and they paid 20,000 down and 750 per month til balance is paid for approx 7 years from now

[Critter]

Ok ... you are selling a personal residence at a loss which is not deductible but the interest you collect each year on this contract is reported on the Sch B.  Do not use the installment sale option since you sold at a loss. 

Go to :  
    Federal Taxes, then
    Wages and income, then
    Choose what to work on, then
    Choose less common income, then
    Home Sale

To enter seller financed interest income:

·         Type interest income - seller financed and click search/find.

·         Click on Jump to interest income - seller financed.

·         Continue with the onscreen questions.