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Updated about 3 years ago,

User Stats

825
Posts
278
Votes
Amanda G.
  • Rental Property Investor
  • Augusta, GA
278
Votes |
825
Posts

K-1 help needed on mortgage note

Amanda G.
  • Rental Property Investor
  • Augusta, GA
Posted

I sold a property with a partner with owner financing, and I need help figuring out the K-1 for our LLC. This is the only asset we have in the LLC, what kind of income are the mortgage payments? how do I record the value of the note, which is obviously going to decrease over time. Advice or links to useful info?

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