Death of seller in intallment sale - Spidell

Death of seller in intallment sale

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Message Board Death of seller in intallment sale

This topic contains 1 reply, has 2 voices, and was last updated by Lynn Freer 8 months, 3 weeks ago.

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  • #138738
    Anonymous

    After 10 years the seller died. Buyer repaid remaining balance. 4 heirs, one of which is buyer, received proceeds. How should this be reported? All gain on decedents return, only buyers 1/4th on decedents return or on heirs returns?

  • #139976
    Lynn Freer
    Participant

    The gain is reported on the beneficiaries’ returns. I believe the buyer would have gain to report as well.