BON
Level 3
03-06-2022
08:22 PM
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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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BobKamman
Level 15
03-06-2022
08:28 PM
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Sounds like an instalment sale and Form 6252 to me.