Step 1: Enter the selling price for the property

Step 2: Enter your adjusted basis for the property

Step 3: Enter your selling expenses

Step 4: Enter any depreciation recapture

Step 5: Enter the amount of any mortgages, debts, or liabilties the buyer is assuming

Step 6: Enter all the payments received over the year, including the downpayment

Step 7: Enter the portion of income that is interest