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Updated about 9 years ago on . Most recent reply

User Stats

37
Posts
14
Votes
Bob M.
  • Investor
  • Saint Louis, MO
14
Votes |
37
Posts

Form 6252

Bob M.
  • Investor
  • Saint Louis, MO
Posted

I bought a property subject to an existing contract for deed to another buyer that was already in place from 3 years prior. That buyer rents the property and has been making timely installment payments on the contract to me ever since I bought the property/contract combo. When filling out form 6252 I understand everything except for where it asks date acquired and date sold.  I know the date acquired should be the date I acquired the property, but should the date sold be the original date the the installment agreement was made with the buyer by the former owner? Will this raise a red flag that it is before the date acquired? Everything I read assumes that the property never ever changes hands after the installment agreement is made. Any clarity would be much appreciated. Thank you!!!

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