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November 14, 2024
Question

Installment sale early payoff

  • November 14, 2024
  • 1 reply
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I sold a rental condo on an installment sale. The term was 10 years with a balloon at payment at payment 120. She sold the property outright this month. How do I report the proceeds? What should I expect the tax liability to be? I bought it in ' 19 for $125K and sold it on installment in '23 for $281K the unpaid balance in $252K. Thank you for your input.   

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    Employee
    November 14, 2024
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