fu
Level 2

I  have questioned this for years and have seen tax preparers transfer my 6252, line to many places. I have real property. i.e. single family homes that I sell on installment sale contracts. This is my buisness and this is my job if that matters. I buy homes, fix them up, sell them on land installment contract, and collect payments each year. I use the installment method for all of them.

Are my properties considered Section 1231?  Where does line 26 of 6252 go? 4797, line 4 or 15, OR, Sch. D line 4 or 11? Does it depend on how long I've owned the property? One buyer on installment sale paid me off with a lump sum this year. Does anything change or do I still fill out the 6252 with the existing Gross Profit Percentage, and transfer line 26 to Sch. D or 4797 and add it to all the other installment sales I have?

Thanks for your response!

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