Form 6252 2023

Don t report interest received carrying charges received original issue discount or unstated interest on Form 6252. If you used Form 4797 only to figure the recapture on line 25 or 36 of Form 6252 enter N/A on lines 31 and 32 of Form 4797. Don t file Form 6252 for sales that don t result in a gain even if you will receive a payment in a tax year after the year of sale. Any excess must be reported in future years on Form 6252 up to the taxable part of has been reported. Paperwork Reduction Act Notice. The ordinary income recapture is the amount on line 31 of Form 4797. Enter it on line 12 of Form 6252 and also on line 13 of Form 4797. 523 Selling Your Home for details. Enter the gross profit percentage determined for the year of sale even if you didn t file Form 6252 for that year. Future Developments For the latest information about developments related to Form 6252 and its instructions such as legislation enacted after they were published go to www.irs.gov/Form6252. How to report the interest. The interest isn t figured on Form 6252. See Pub. 537 for details and an example on how to report the interest under section 453A. Form Department of the Treasury Internal Revenue Service Installment Sale Income Yes No Gross Profit and Contract Price. Complete this part for all years of the installment agreement. Gross profit percentage expressed as a decimal amount. Divide line 16 by line 18. For years after the year of sale see instructions. If this is the year of sale enter the amount from line 17. Otherwise enter -0-. Payments received during year see instructions. Don t include interest whether stated or unstated. Add lines 20 and 21. whether stated or unstated. Enter the part of line 24 that is ordinary income under the recapture rules. See instructions. Subtract line 25 from line 24. Enter here and on Schedule D or Form 4797. See instructions. Part III Identifying number Selling price including mortgages and other debts. Don t include interest whether stated or unstated Mortgages debts and other liabilities the buyer assumed or took the property subject to see instructions. Cost or other basis of property sold. Depreciation allowed or allowable. Adjusted basis. Subtract line 9 from line 8. Commissions and other expenses of sale. Income recapture from Form 4797 Part III see instructions. Add lines 10 11 and 12. If the property described on line 1 above was your main home enter the amount of your excluded gain* See instructions. Otherwise enter -0-. Gross profit. Subtract line 15 from line 14. Contract price. Add line 7 and line 17. Attachment Sequence No* 67 Description of property Date acquired mm/dd/yyyy b Date sold mm/dd/yyyy Was the property sold to a related party See instructions. If Yes complete Part III for the year of sale and 2 years after the year of the sale unless you received the final payment during the tax year. Reserved for future use. Attach to your tax return* Use a separate form for each sale or other disposition of property on the installment method.