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Old 03-25-2009, 07:58 PM
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Exclamation Need Clarification on Installment Method/Capital Gain

In 2008 I sold a secondary home on contract. Is this considered an installment method? If not, then how do I claim the entire sale for 2008 when I will still have mortgage interest that I will claim next year since the buyer will not secure financing until this year and finalize the purchase. I'm confused since this is the first time I have sold a home. Thanks.



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