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Level 3
March 21, 2023
Solved

Land installment sale

  • March 21, 2023
  • 1 reply
  • 12 views

I have a couple who sold land on an installment agreement. The land sale was $725,000 and the buyer put a down payment of $200,000. The installment agreement is for $525,000. Where do I enter the cash down payment  of $200,000? The installment agreement is for $525,000. The installment agreement is only for 5 years.

 

Thanks!

 

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Best answer by IRonMaN

The 6252 starts off with the total selling price.  The downpayment would be part of the current year collections.

1 reply

IRonMaN
IRonMaNAnswer
Level 15
March 21, 2023

The 6252 starts off with the total selling price.  The downpayment would be part of the current year collections.

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