QUESTION
What do I report as income on a self financed rental sale?
Asked on Jan 04th, 2016 on Real Estate - California
More details to this question:
I am carrying paper on a rental sale made in 2015. Buyer paid me a down payment and is making monthly payments including some interest payment. What do I declare as income to the IRS and on what forms?
1 ANSWER
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You would report an installment sale. Each year, you are receiving a return of your capital, a capital gain, and interest.
Answered on Jan 04th, 2016 at 2:15 PM