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1065 returns

Installment Sale Deferred Gain

This template can be used to calculate and track the deferred gain on installment sales.
All of the information needed to produce a carryforward for IRC Sec. 453 deferred gain on installment sales is entered on the Input worksheet. The yellow highlighted cells are calculated fields, and no data should be entered in these cells.  Gray cells are not calculated fields, but data should not be entered in these cells.

Entering Information

Enter the following information:

  • Property sold (Enter a description to identify the property.)
  • Date of sale
  • Tax year-end of sale
  • Amount of sale
  • Adjusted basis (Enter the adjusted basis of the property for both regular and AMT purposes.)
  • Cost of sale
  • Principal received (On the line corresponding to the tax year ended, as shown in Column a, enter the principal received each year.)

Schedules Beginning after the First Year

Complete the Gain Previously Reported box only if a schedule beginning after the first year is to be generated and the collections detail for prior years is to be omitted.  In this case enter:
  • Property sold
  • Date of sale
  • Gain on sale (Enter the gain for both regular tax and AMT.)
  • Gross profit percentage (Enter the gross profit percentage for both regular tax and AMT.)
  • Principal received (Enter the principal received for the year displayed in Column a of the input table.)