Surgent's Taking Advantage of Installment Sales

Overview

When real property is sold for a gain, we always try to find ways to defer recognizing income so that it won’t be necessary to send a check to Uncle Sam. There is a provision within the Internal Revenue Code that allows the taxpayer to defer recognition of immediate taxable gain in the year of sale known as an “installment sale.” Knowing how and when to utilize this provision makes the Accounting and Finance Professionals very valuable to either their client or the entity they work for. We will also discuss recent proposals that could impact the future of this provision.

Highlights

• How does the IRC define an installment sale under IRC Sec 453?
• When can a taxpayer utilize the provisions of IRC Sec 453?
• When should a taxpayer utilize the provisions of an installment sale and when should it be avoided?
• How does the issue of a “dealer” vs. a “non-dealer” impact the use of the installment sale method?
• Reporting an installment sale when related parties are involved
• Calculating an installment sale
• How has the Tax Cuts and Jobs Act impacted the use of the installment sale method?

Prerequisites

A basic knowledge of the provisions for recognizing gain or loss on the sale of real property

Designed For

Accounting and Finance Professionals who either represent or work for entities that own real property

Objectives

• Utilize the provisions of IRC Sec 453 to defer recognizing gain on the sale of real property via an installment sale

Preparation

None

Notice

This on-demand webcast can be taken at any time of your choosing and is valid for one year from the date of purchase. No live instructor is present, and an exam is required to earn credit. You must score 70% or higher to earn the certificate.

How do I access my Self-Study Package?

Visit https://www.surgentcpe.com/login and enter your username (your LCPA email address) and password. If you do not remember your password, press the "Forgot?" button to receive a password reset email. Once logged in, the page will refresh to display your account menu on the left side.