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If there is no gain on the sale of a primary residence, must form 6252 be completed?
Am thinking no. Interest will be reported, however. Also the interest amount isn't flowing to
Schedule B. What am I not doing that I should be?!
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I'd kill the 6252. It is only used for gains.
Enter the interest in Schedule B.
The more I know the more I don’t know.
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On schedule B, quick zoom at top of form to enter seller financed interest, as you need to put payers name, SS, address, and amount
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I agree. Found a worksheet that can be used to enter Seller-Fin just under Schedule B, then Int/Div Summary. The same info that would be at the bottom of 6252 can be entered there. Borrower name, address, amount, ss#.
Now the challenge will be to get the ss# from the borrower...
Thank you!
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Yes, thank you!
I found it in the list of forms, but clicking on it from Sched B is easier...