Ask Experts Questions for FREE Help !
Ask
    bwayco's Avatar
    bwayco Posts: 1, Reputation: 1
    New Member
    		  
    #1

    Apr 2, 2010, 12:33 PM
    How do I report income received from a review period extension payment?
    I had a purchase agreement on my home and the buyer paid me $2500 for an extension. How do I report this amount on my taxes?
    MukatA's Avatar
    MukatA Posts: 7,110, Reputation: 176
    Tax Expert
    		  
    #2

    Apr 3, 2010, 04:18 AM

    It may be added to your sale price while reporting the sale on schedule D (Form 1040). Not sure.
Not your question? Ask your question View similar questions
 

Question Tools Search this Question
Search this Question:

Advanced Search

Add your answer here.


Check out some similar questions!

Never received Land Contract payment schedule. [ 1 Answers ]

I got into a Land Contract to buy a home a few years ago. Since then I have paid more than twice the amount that was owed and have never received my payment schedule. I have called my Vendors repeatedly and written more than that over these few years, but all I have received was false promises that...

H1B extension received for only 9 months [ 1 Answers ]

Hi I have a H1B visa which I sent for extension in Apr,08. My Visa Expiry was July 9,2008. I got my extension approval mail on 16 Aug and my extension papers were processed and sent to me. But to my surprise the extension was starting only from Aug 15,2008 to May 29,2009.:confused: So...

Bought Jetski, sent payment but never received it. [ 3 Answers ]

Hi, I need help as I bought a jetski off someone over the internet, sent the payment via a bank transfer and now he no longer answers any of my phone calls (i.e. I presume he sold the jetski twice). I live in Europe and found a jetski for sale in the US. It was a 2003 Yamaha GP1300R selling...

Never received payment [ 1 Answers ]

My boyfriend asked me to pay his phone bill for him, 3 times, saying that I would get my money back when he got it. The total amount is $300.00. I have been trying to get the money back for months. We are now broken up and he is refusing to pay. I have the bank statements saying the amounts I...

How to report income received-no tax withheld [ 4 Answers ]

Since I only work part time, I found it necessary to earn extra money for living expenses. I worked as a webcam model, on an ongoing model website, as well as a promotional model. None of these businesses withheld taxes from what was paid to me. My question is what do I need to have to enable...

View more questions Search