Blake H. asked
I live in NY state but am selling a property in CA. I have to include the real estate withholding - computation of estimated gain or loss (CA Form 593 E) and Real Estate Withholding Certificate (CA Form 593 C) with the closing documents. The sale price on the property is $325,000, but I am owner-financing the sale. I'll receive a deposit of $90,000, with the balance paid over ten years at 5% interest. I paid $80,000 for the property, and improvements, plus cost of sale, lawyers fees, etcetera come to $145,000 over the life of the property. How should I fill out these forms considering the actual money received versus projected income?
December 13th, 2024
Scott M. answered
For an installment sale, you should use Form 593-E, Real Estate Withholding – Computation of Estimat...
December 13th, 2024
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