Land Contract Question
Sold some of my property on a land contract. I have the land contract loan set up in quicken. Title company issued me a check for the net amount of the down payment the purchaser gave them. How/where do I show the fees that were deducted out of that down payment check? Fees for lawyer, title insurance, property taxes.
My accountant deals with depreciation and all that kind of stuff. I just want to get the fees in the correct spot for now.
I'm just confused....I want to show the actual amount deposited in my checking, which is the net amount. But yet I need to show the amount the buyer paid in his down payment to me. I just don't know how to make all this work!
Any help is appreciated!
Lisa









