The installment method of accounting applies automatically to any sale of property for which the seller receives at least one payment for the property in a year beyond the year of sale, unless the taxpayer elects out or unless the property is ineligible for the installment method.
This course demonstrates how to calculate and report gain for each year under the installment method, contingent payment installment sales and other installment sales with a variable sales price, the risks of pledging or transferring installment notes, and other installment sale issues.
Who Should AttendTax practitioners at all levels who provide advice and return preparation on transactions involving installment notes, such as real estate transactions and sale of businesses.
Instructional MethodGroup: Internet-based
NASBA Field of Study
Taxes (2 hours)
Program PrerequisitesBasic familiarity with sale transactions, including how to calculate gain and loss