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March 23, 2020
Question

I inherited property thru a trust. Am selling it to my grown daughter on a land contract.Program won't accept her name in"received from" box. What do I put in that box?

  • March 23, 2020
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1 reply

March 23, 2020

To report a "Land Sale", also referred to as an Installment Sale:

  • Click on "Search" and type "Installment Sales" in the window and hit Enter
  • Click on "Jump to Installment Sales"
  • On the page "Any Other Property Sales" check the box for: "Sales of real estate, cars, or anything else for which you receive payments over two or more tax years (installment sales)" and click Continue
  • If you are using Deluxe you will be prompted to upgrade to Premier
  • On the Installment Sales page answer yes to "Do you want to report an installment sale?"
  • Continue through the interview and record the details of your Installment Sale

You would enter your daughter's information as the "Related Party" that bought your land.

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