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 module's Asset Detail window, select the Disposal tab. The Installment Sale button is available when you select
Sold / Scrapped
from the dropdown list in the
Method
box. Select to open the Installment Sale window.

Fields and buttons

Mortgage and other debts the buyer assumed
Enter the amount of mortgage and other debts the buyer assumed.
Total current year payments received
Enter the amount of current-year payments received.
Current year payments received after 5/5/03
Enter the amount of any current-year payments received after 5/5/03.
Total ordinary income to recapture
Enter total ordinary income to recapture.
Property code
For the property being disposed of, select the description from the
Property code
box.

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 first line provided, and use the second line if you need additional space.)

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