So in 2024 we sold a piece of raw land held for over 20 years. We opted to take 50% this year (2024) and the remainder with no interest in 2025. How do I report this in TT. I could just say it was a land sale and split the expenses by 1/2 and then report the balance of the income and remaining expenses in 2025. FWIW expenses will be non deducted property taxes, some legal costs for document prep, and recording fees.
OR?
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