Form 6252 Fill in Version Installment Sale Income

Instructions and help about Form 6252 Fill in Version Installment Sale Income

we'll be going over IRS form 6252 installment sale income this is an uh an attachment that you'll file with your income tax return if you're using the installment sale method essentially the installment sale method means that you are selling a piece of real property or perhaps personal property in a manner where you collect payments over more than one year so if you sell a piece of property but you collect all the money at one time then you would not use the installment sale method you would simply report that on the appropriate form but if you're collecting payments over one or more than one year then you may need to file IRS form 6252 to report the installment sale I said there are certain circumstances where you don't file form 6252 ing to the IRS form instructions so you would not file this form in the case of sales that do not result in a gain even if you receive a payment in the in the tax year after the year of the sale you'll simply report the entire sale on either IRS form 479