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Land Contract

BON
Level 3

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 Comment 1
BobKamman
Level 15

Sounds like an instalment sale and Form 6252 to me.

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