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CO online Form 6252: What You Should Know
Installment Sale Income Report: IRS, IRS Generally, you would report the sale of an installment if the property was held to make a profit at the time of the sale. However, you don't have to hold the property in order to report the sale. Use Form 6252 to report the sale of an installment for any of these situations: If you sold the property (and did not keep it in order to make a profit) If the sale (and did not allow the purchaser to pay less than the price paid when the property was sold) If a portion of the property sold is required, e.g., stock that has been repurchased or leased, or inventory items. Use Form 6252 to report the sale of an installment if the purchaser received an amount for the entire installment that is less than that price paid when the property was sold. Use this form to report the sale of an installment if... You purchased property at a loss to make an earlier sale at a profit Use this form to report an installment sale when: You purchased property in a block sale of an entire block, or the entire block was sold at a loss You purchased inventory items, for the entire amount needed to make the full purchase price You have a contract for ownership of real property To report these cases, you will want to calculate the sale price and the sale proceeds. In these situations, you have a contract for ownership of real property. IRS Form 6252: Installment Sale Income Report: IRS, IRS To show you how to use Form 6252, the following example illustrates how you would report an installment sale on the installment method and its various uses. Example 1. The following example is a block sale of an entire apartment complex on a cash basis, with each apartment sold at a price that exceeded its original purchase at 30,000. The complex was sold at a loss of 40,000 to investors. The following table indicates the sales price and proceeds to the investors that paid less than the original purchase price, or in some cases, paid less than the entire property cost. Example 2. The following example is an installment sale which occurred during the summer of 2009. The complex was sold for 45,000, the entire purchase price being 37,500 for the buildings, land, and all buildings and lots on the property.
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