Disposal > Installment Sale dialog

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Use this dialog to record information for the installment sale of an asset.

After selecting the asset in the Asset Detail dialog, click the Disposal tab. The Installment Sale button is available when you select Sold / Scrapped from the drop-down list in the Method field. Click the button to open the Installment Sale dialog.

Data from the first three fields in this dialog are available for custom reports that you can define.

Note: Information entered in this dialog transfers to UltraTax CS.

Fields & buttons

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.

Enter the amount of current-year payments received.

Note: Information from this field is available for custom reports that you can define.

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.

Enter total ordinary income to recapture.

Note: Information from this field is available for custom reports that you can define.

For the property being disposed of, choose the appropriate description from the Property code field.

Related Party group box

Enter the name and address of the related party.

Mark this checkbox if the property sold was a marketable security.

Enter the date of the second sale. If a date is entered, the application marks the checkbox on Form 6252, line 29a.

If applicable, select a special condition from the drop-down list. Special conditions apply for sale or exchange of stock, involuntary conversion, death of original seller, or non-tax avoidance transactions.

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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