I bought a land in 01-2005 for $70,000 . Put down $10,000. With 6.5% for 6yrs. Monthly pymnt. Is $1,008.56

I sold this land for $110,000 on Dec. 08 with seller financing $60,000. After paying off my mortgage $25,419. And received a check of $21,067.

The total interest paid $11,059, and principal $37,358 . The total property tax paid appoximately $9,000.

I appreciate your help on how to calculate to pay federal tax.

Sincerely,

This is a complex tax calculation which involves both capital gains calculations plus an installment sale form.

To ask ANYONE to prepare such a return without compensation, especially in the middle of tax season, is both unfair and insulting, which is why no one reponded to your post.

I hope you properly compensated whomever prepare your return for you.