The Tax Tracking tab is a complete worksheet for the tax life of a note — from the day you acquire it to the day you dispose of it.
Acquisition → disposition
Record the acquisition (date, method, basis inputs, depreciation) and, when you sell or close out, the disposition (sale date, type, price, expenses, down payment, debt assumed). NoteHarbor keeps both ends of the story on one loan.
Automatic Form 6252 figures
From those inputs NoteHarbor computes Form 6252 installment-sale figures automatically:
- adjusted basis, gross profit, gross-profit %, and contract price
- excess mortgage over basis for wrap deals (a year-of-sale payment)
- depreciation recapture and holding period
- gain recognized per tax year as principal is actually collected
One-click CPA export
When it's time to hand things to your accountant, the CPA export bundles the closing statement, note, deed, and mortgage into a ZIP with a generated summary cover sheet that includes the worked installment-sale numbers — one click, ready to send.
Selling or closing a note moves it to Closed Out
From the loan page, click Close Out and choose Sold — the dialog opens the same disposition fields right there (sale date, type, price, expenses, down payment, debt assumed), saves them straight to this worksheet, and writes an audited LOAN_SOLD entry. The moment you save, the loan drops off your active loan list and appears in Loans → Closed Out, so your working list stays focused on notes you're still servicing. (Editing an already-closed loan's disposition later still works from Edit Loan → Status → Sold.)
The Closed Out tab (next to Archived, on the main Loans page) lists every sold, closed, and paid-off note with the numbers you need at a glance: status, the date it closed or sold, sale price, original principal, and lifetime interest collected. Nothing is hidden — click any row to open the full loan record: payment history, statements, reports, and the 1098, exactly as before. Closing a note out only moves it off the active list; it never restricts what you can see.
Closed a note by mistake? An Owner or Admin can Reactivate it right from the Closed Out list — it asks for a short reason and logs the reversal (LOAN_REACTIVATED) in the audit trail, then the loan returns to Active.
These figures inform your CPA's return; they don't replace professional tax advice.