Is the balloon payment considered capital gains
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Hi @jhawktn
if this has been reported it as an Installment Sale, You will pay taxes on gain based on when you receive the payments for the 'principal' (in your case a balloon payment). This is taxed at the capital gains rate.
Thank you for Choosing TurboTax!
Hi @jhawktn
if this has been reported it as an Installment Sale, You will pay taxes on gain based on when you receive the payments for the 'principal' (in your case a balloon payment). This is taxed at the capital gains rate.
Thank you for Choosing TurboTax!
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