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Selling real estate with rent credited as down payment (USA)

If that were the whole story, we would each year report the appropriate things on 1040 schedule 1. I'd say Schedule E, not schedule 1. Schedule 1 is for primary/secondary residence, which this is not....
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Tax deductions for a rental property, personal vs LLC

When you have a rental property, income and expenses are calculated on the business side and flow to your Schedule E (it's possible to have rental activity on your Schedule C, but it's a very high bar ...
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