Hello! I did an installment sale this year to sell my rental property. The buyer paid off my existing mortgage on the rental property. This is a part of the selling price. So for example I sold the property for a selling price of 400k and the mortgage was 120k and the buyer will pay the remaining 280k due over the next 7 years. So at the time of closing the buyer only paid the 120k to pay off the existing mortgage.
Since the mortgage was paid off at closing and the buyer did not take over the mortgage, would I report the amount the buyer paid to pay off the existing mortgage on line 6 of form 6252? Line 6 it says to enter only mortgages, debts, or other liabilities the buyer assumed from the seller or took the property subject to.