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TangledMess
April 7, 2023
Solved

Installment Sale Rental Property- Property Type code definition

  • April 7, 2023
  • 3 replies
  • 0 views

Does "residential lot" include a residential home?  (or does "lot" mean undeveloped?)

I reviewed Form 6252 instructions and do not find definitions.

 

Best answer by PatriciaV

A "residential lot" is a platted section of a residential neighborhood that has not been developed.

3 replies

PatriciaV
PatriciaVAnswer
Employee
April 9, 2023

A "residential lot" is a platted section of a residential neighborhood that has not been developed.

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    N
    Nikkitonkakc
    April 13, 2023

    Which  code for mobile home on land,  thx

    N
    Nikkitonkakc
    April 13, 2023

    Which  code to use for description for mobile home on land,  thx

    D
    DianeW777
    April 13, 2023

    Choose a code from the following list (Form 6252 & Instructions😞

    1. Sale property is timeshare or residential lot. 

    2. Sale by an individual of personal-use property (within the meaning of section 1275(b)(3)). 

    3. Sale of any property used or produced in the trade or business of farming (within the meaning of section 2032A(e)(4) or (5)). 

    4. All other installment sales not listed.

     

    @Nikkitonkakc  

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    C
    corinneL
    February 27, 2025

    so, the exchange of residential rental property would be a type 4. All other installment sales not listed?

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