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Menu Path: Income > Uncommon Income > Installment Sale
Seller-financed interest income only applies if you sold your home and provided the buyer financing instead of the buyer getting a home loan through a bank. So, if the buyer pays their mortgage payments directly to you, then you have seller-financed interest income.
If the interest you received was not part of an installment sale, you should enter your interest income on the Your Seller-Financed Loan Interest Income screen.
A sale isn't an installment sale if any of the following are true:
- The sale doesn't result in a gain, or the entire gain was excluded.
- All of the payments were received in the same year.
- You choose to not report the sale as an installment sale.
