A Closer Look Into Installment Sales

Authored by Jennifer Kowal
About this Course
Topics covered include: Definition of installment method; Mechanics of installment method gain reporting; Contingent payment installment sales; Transfer of installment obligations Interest charge on large; installment sale notes. Upon completing this course, you should be able to: Recognize when installment method applies; Identify how gain is calculated and reported under the installment method; Describe contingent payment installment sale rules and differentiate when and how they apply; Identify special rules regarding transfer of installment obligations and interest charges on large installment obligations; Recognize IRC Sections prescribe the requirements for calculating the gain on sale of property; Differentiate court cases involved the consideration of the open transaction doctrine; Describe proper statements with respect to contingent payment installment sales; Identify special rules regarding installment sales; Identify situations where the seller paid a contingent piece based on performance of a business in the future; Describe the basic calculation of gain on sale of property; identify and apply steps in applying the installment method.
$ 25.00
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NASBA Field of Study
Taxes
Level
Intermediate
CPE Credits
2.0
Prerequisites
Basic familiarity with sale transactions, including how to calculate gain and loss
Last Updated
02/01/2018
12530