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Author: Junkman Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 120809  
Subject: Cash Note treatment Date: 2/10/2000 8:07 PM
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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?
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Author: pmarti Big funky green star, 20000 posts Home Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 28248 of 120809
Subject: Re: Cash Note treatment Date: 2/10/2000 8:34 PM
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<< 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

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