Taxable gain using the installment sales method


Pat sells real estate for $30,000 cash and a $120,000 5-year note. If her basis in the property is $90,000 and she receives only the $30,000 cash down payment in the year of sale, how much is Pat's taxable gain in the year of sale using the installment sales method?

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Accounting Basics: Taxable gain using the installment sales method
Reference No:- TGS038128

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