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Do I report the sale of my home under both "Less Common Income, Installment Sale" and "Interest and Dividends, Interest From Seller Financed Loans" or just once?
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Do I report the sale of my home under both "Less Common Income, Installment Sale" and "Interest and Dividends, Interest From Seller Financed Loans" or just once?
Just one entry. Enter your installment sale, include the interest in the "Less Common Income > Installment Sale" section.
TurboTax Deluxe desktop will carry the interest to the Schedule B and the capital gain to Schedule D.
You can view this in forms mode if you choose. Use the image attached or assistance.
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Do I report the sale of my home under both "Less Common Income, Installment Sale" and "Interest and Dividends, Interest From Seller Financed Loans" or just once?
Just one entry. Enter your installment sale, include the interest in the "Less Common Income > Installment Sale" section.
TurboTax Deluxe desktop will carry the interest to the Schedule B and the capital gain to Schedule D.
You can view this in forms mode if you choose. Use the image attached or assistance.