Help setting up a private party promissory note
BeachBunny
Quicken Windows Subscription Member
Hello, I have a Quicken Premier for Windows 10 subscription. I need help to set up a private party promissory note that is being paid to me (principal & interest breakdown). Thank you in advance :)
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Answers
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If you haven't already, I suggest you review the built-in documentation on the subject: press F1
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Sorry, I forgot to mention the proceeds I am receiving are for an installment sale of some private stock. Will the solution you provided apply to that type of transaction?0
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I don't see why it shouldn't apply. If you're using the the installment method, you do need determine the portion of the principal paid that is gain versus adjusted basis in the private stock you sold. You may want to review: https://www.irs.gov/publications/p537BeachBunny said:Sorry, I forgot to mention the proceeds I am receiving are for an installment sale of some private stock. Will the solution you provided apply to that type of transaction?1 -
Ok. Thank you so much for your help.0
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