TaxGuyBill
Level 15

@Just-Lisa-Now- wrote:

I have the amortization schedule and the gross profit % on the 2018 return, can I just fudge in the basis on the top of the 6252 to make it match the gross profit %..shes got the principal and interest amounts received for 2019.


What "basis" are you referring to (Line 10?)?  With the amortization schedule and the Gross Profit %, I think you should be able to come up with the necessary information.  The other stuff like commissions and mortgages really don't matter.

Was the original property depreciated (such as a rental property)?  If so, you need to make sure all of the Unrecaptured §1250 Gain has been 'paid'.

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