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Level 2
March 25, 2021
Question

Installment Sales

  • March 25, 2021
  • 2 replies
  • 8 views

I have 5 siblings who sold their rental property and holding the mortgage.  I've accounted for everything at 20% over the years including depreciation.  Do I show 20% on the Installment Sale form as well?

Thank you

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2 replies

sjrcpa
Level 15
March 25, 2021

Yes

The more I know the more I don’t know.
Level 2
March 25, 2021

Thank you. I forgot to ask about the assets that are not fully depreciated. How to I account for them.