Alabama 40NR - reporting self financed sale of rental real estate...

Forum|Forum|2 years ago
March 19, 2024
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How to report the sale of commercial rental property when self financed by seller on installments. Schedule D on Alabama 40NR does not provide an installment sales option for reporting.

CatinaT1

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edwardf1939Author

I am using Turbo Tax Premier desktop edition with Alabama state download. Evidently the Alabama 40NR return does not include a form for reporting installment sales of real estate the same as the Federal 1040 form 4797 and form 6252. A google search solution for reporting installment sales of real estate with seller financed installment sales was to include a statement with the tax return indicating the intention of selling on the installment basis with the information that was included on the Federal form 4797 and 6252.

DianeW777

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@edwardf1939

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