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

[piecey]

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]

Client would record the lien at the local courthouse. It has no tax return effect.

[sjrcpa · Accepted solution]

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

[IRonMaN]

Sounds like the vendor is a skinny guy ------------------- if that helps :smile: