November my client sold on a single-family home on land contract (11 yrs, 5 months) for $41,000.  Original selling amount was $34,500 but he loaned them $6,500 for a new furnace, etc.

There is a mortgage for $34,348.14 on this property. 

When it was first put on as a rental property the value was $36,331 in 1999.  The depreciation is $30,109.

How do I show this on the tax return? From what I read it cannot be an installment sale. I have never done a land contract sale. If I could have some step-by-step I would greatly appreciate it.

Received $550 for Nov and Dec part escrow and part payment