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Level 2
December 7, 2019
Solved

How do you record a vendor's lean acquired with the sale of a business property?

  • December 7, 2019
  • 3 replies
  • 13 views
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Best answer by sjrcpa

More details please. Who sold what? Are you prparing buyer's or seller's return. How does the lien fit in?

3 replies

pieceyAuthor
Level 2
December 7, 2019
My client sold a building that at one time had been a rental property.  The client acquired a vendor's lien as part of the settlement.  
sjrcpa
Level 15
December 7, 2019
Client would record the lien at the local courthouse. It has no tax return effect.
The more I know the more I don’t know.
sjrcpa
sjrcpaAnswer
Level 15
December 7, 2019

More details please. Who sold what? Are you prparing buyer's or seller's return. How does the lien fit in?

The more I know the more I don’t know.
IRonMaN
Level 15
December 7, 2019
Sounds like the vendor is a skinny guy ------------------- if that helps :smile::smile:
Slava Ukraini!