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B
BON
Level 3
March 7, 2022
Question

Land Contract

  • March 7, 2022
  • 1 reply
  • 4 views

I have a client that sold a land parcel in AZ and he lives in CA.  Do I just report the Interest Income in 2021 or do I have to enter other information and if so where would I enter the information.  From what I read he does not realize a gain until paid in full.

Thank You

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1 reply

BobKamman
BobKamman
Level 15
March 7, 2022

Sounds like an instalment sale and Form 6252 to me.

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