IRS PUBLICATION 537
A document that covers the general rules on how to report gains from an installment sale. Taxpayers who sell property using the installment method receive at least one payment in a later tax period, and may report a portion of the gain from the sale once the payment is received. When reporting gains using Form 6252 or Installment Sale Income, the taxpayer lists the income from the gain on the sale and any interest received during the year in which the payment is given.
POPULAR TERMS
Capital Commitment
Future capital payments that a firm has pledged to pay out on long-term assets over a particular time period. This also talks about the securities ...
Overwithholding
A term which refers to an excess amount of tax being withheld for an employee. It will be sent back as a refund to the taxpayer after he or she fil ...
Diluted Earnings Per Share - Diluted EPS
It is the measure of a company’s profits.
Covenant
Promise a firm made to an indenture or other formal debt agreement, stating some activities will or won’t be carried out. In finance, it freq ...
Gross Spread
Difference between the security price paid by the underwriter and the actual price charged to the public. The spread compensates the underwriters o ...
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