100% Seller Financed Deal - What to expect with Tax time

[Dave S.]

So I am closing on my first 100% seller financed deal tomorrow and would like to understand how to handle the payments, especially for tracking purposes come tax time. Obviously I can send them a check every month but what else should I be doing? Sending an updated amortized schedule? Does someone have to send out a 1099 / 1098 or can we be self sufficient?

Thanks in advance