We have been renting him the land and that has been reported for the last 20 years or so. We have been doing the land income from rental for that time.
When you say the installment must bear interest, what happens if we are not charging interest? Or am I missing something? So, if we did nothing to the land, and her brother just farmed it and paid us cash rent, we had no sales expenses or anything else to do with it other than collect rental land cash rent, we need to see a tax pro? I would think that would be easier with no interest.
