.Several years ago I owner financed a piece of investment property. I used IRS Form 6252 to report installment sale income for capital gains. In 2017, the loan was paid off and it doesn't appear that Form 6252 is the correct form to report the balance of the capital gains.

Can you tell me what form to use for this purpose, if not Form 6252 and some insight on how to fill it out.

Capital Gains Tax

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Tax Professional Answers

Anytime you have a capital gain, it ends up on Schedule D, but you have to take several steps to get there. Use the 6252 to record the payments received in the final year, and transfer the taxable gain to Schedule D. Just like you should have been doing all along.

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.Several years ago I owner financed a piece of investment property. I used IRS Form 6252 to report installment sale income for capital gains. In 2017, the loan was paid off and it doesn't appear that Form 6252 is the correct form to report the balance of the capital gains.

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.Several years ago I owner financed a piece of investment property. I used IRS Form 6252 to report installment sale income for capital gains. In 2017, the loan was paid off and it doesn't appear that Form 6252 is the correct form to report the balance of the capital gains.

Tax Professional Answers

View/Select our Current List of Tax Topics

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