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.