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Employee
September 28, 2024
Question

Second home sale 2023, personal use, seller financed. I entered F1099-S & completed the Installment Sales questions (F6252). TT seems to be calculating a capital gain as if I were paid all at once.

  • September 28, 2024
  • 1 reply
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1 reply

Employee
September 28, 2024

You should be entering the amount of principal and interest you received.

 

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Employee
September 29, 2024

I had entered those correctly. Just checked. And I had checked the box about the buyer using house as their main residence.

 

When I entered the information from F1099-S, should I have entered the full sales proceeds, or just the amount I had received from the buyer at closing, the 20% down payment?