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Installment Sales Income Gross Profit and Contract Price

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Question
Installment Sales Income Gross Profit and Contract Price

Answer

Enter the total of any money, face amount of the installment obligation, and the FMV of other property or services that you received or will receive in exchange for the property sold. Include on line 5 any existing mortgage or other debt the buyer assumed or took the property subject to. Do not include stated interest, unstated interest, any amount recomputed or recharacterized as interest, or original issue discount.

If there is no stated maximum selling price, such as in a contingent payment sale, attach a schedule showing the computation of gain. Enter the taxable part of the payment on line 24 and also on line 35 if Part III applies. See Temporary Regulations section 15A.453-1.

Form 6252 Instructions


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Views: 309 Created on: Jun 15, 2013
Date updated: Sep 09, 2015

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