Disposal > Installment Sale dialog

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Use this window to record information for the installment sale of an asset.
After selecting the asset in the
Asset Detail
window, select the
Disposal
tab. The
Installment Sale
button is available when you select
Sold / Scrapped
from the dropdown list in
Method
. Select the button to open the
Installment Sale
window.
Data from the 1st 3 fields in this window are available for custom reports that you can define.
note
Information entered in this window transfers to UltraTax CS.

Fields & buttons

Mortgage and other debts the buyer assumed
Enter the amount of mortgage and other debts the buyer assumed.
note
Information from this field is available for custom reports that you can define.
Total current year payments received
Enter the number of current-year payments received.
note
Information from this field is available for custom reports that you can define.
Current year payments received after 5/5/03
Enter the amount of any current-year payments received after 5/5/03.
note
Information from this field is available for custom reports that you can define.
Total ordinary income to recapture
Enter total ordinary income to recapture.
note
Information from this field is available for custom reports that you can define.
Property code
For the property being disposed of, select the description from
Property code
.
Related Party group box
Related party name, Address, City, State, Zip
Enter the name and address of the related party.
Taxpayer identification number
Enter the related party's taxpayer identification number.
Marketable security
Mark this checkbox if the property sold was a marketable security.
Date of second sale
Enter the date of the second sale. If a date is entered, the application marks the checkbox on Form 6252, line 29a.
Special condition
Select a special condition from the dropdown list. Special conditions apply for sale or exchange of stock, involuntary conversion, death of original seller, or non-tax avoidance transactions.
Selling price of property sold by related party
If the related party re-sold the property in a year subsequent to the original installment sale, enter the selling price of the property sold by the related party.
Explanation
Enter an explanation of the related-party exchange if you used a special condition for non-tax avoidance transaction. (Start by using the 1st line provided, and use the 2nd line if you need additional space.)

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