Message Font: Serif | Sans-Serif
 
No. of Recommendations: 0
during 1999, I cashed in a 13% cash note received from Atlantic Gulf communities during 1996. How do I treat this as 1) income or 2) a long term capital gain?
Print the post Back To Top
No. of Recommendations: 0
<< during 1999, I cashed in a 13% cash note received from Atlantic Gulf communities during 1996. How do I treat this as 1) income or 2) a long term capital gain? >>

I assume this was a bond. You report the redemption or sale on Schedule D. Proceeds minus basis equals gain or loss. If you received any interest payments from it during the year, you report those separately as interest.

Phil Marti
Tax Preparer
Print the post Back To Top
Advertisement