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Installment Sales

Taxlady2021
Level 2

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 Comments 2
sjrcpa
Level 15

Yes

The more I know, the more I don't know.
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Taxlady2021
Level 2

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

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