I sold a home on a real estate contract in 2013. There was an existing mortgage on the property. The buyer paid me off in 2017. The balance due on the real estate contract was $104,000. The mortgage balance was $88,000 and was paid off. The escrow company paid me the balance of $16,000. What amount do I put on line 21 on Form 6252? A tax preparer told me to put $104,000, but that does not seem correct...
... View more
This widget could not be displayed.
This widget could not be displayed.
This widget could not be displayed.