Installment Sales

Course Information

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Title: Installment Sales
Category: Taxation
Field of Study: Taxes
Course Code: T022-0155
CPE Credits: 2.0
Price: 19.95



An installment sale is a sale of property where one or more payments are received after the close of the tax year. This course discusses the particulars of installment sales, including requirements, calculations and pitfalls. Cross issues such as a combined installment sale and like-kind exchange, the impact of related parties, pledging, repossession and contingent payments are reviewed. Also, the importance of recognizing the dangers of dealer status, inventory, purchase price allocation, and installment note disposition are emphasized.

Delivery Method: Online Interactive Self Study

Level: Overview

Prerequisites: None

Advanced Preparation: None

Course Details

Category: Taxation

Field of Study: Taxes

Passing Score: 70%

Publication Date: 03/17/2022

Technical Details: Taxes: Technical

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1. Recognize the importance, particularly in tax deferral, of the installment method, and identify Section 453 requirements and installment method terminology. 2. Specify the imputed interest, OID and Section 1038 repossession rules affecting installment sales and subsequent repossessions. 3. Identify the following Section 453 pitfalls and complexities: the related party limitation, the regulations governing the use of the installment sale method in like-kind exchanges and the contingent payment sale rules. 4. Determine how to allocate and report installments payments among identified asset classes using R.R. 76-110 and the residual method recognizing Section 453 prohibitions on certain assets regarding dealer dispositions and inventory. 5. Identify the amount of interest payable on tax-deferred income when Section 453 dispositions exceed $5 million and circumstances considered taxable dispositions of installment obligations to determine when any gain or loss is recognized.

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QAS: Yes

CPA: Suitable for all CPAs

IRS: IRS credit for Enrolled Agents.

Profession Identifiers: CPA, EA