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By Q. EARL YANCEY
Rappahannock News Contributing Writer
One should consider both the tax and non-tax aspects of selling property on the installment basis as opposed to selling for cash.
Most taxpayers feel the installment basis of selling is beneficial because the tax consequences are spread over future years. If your future-year tax brackets are going to be higher for reasons other than this sale (increases in other forms of income), the installment sale could actually work to your detriment.
You may have large loss carryovers from prior years which are about to expire; a cash sale might result in little or no tax for the current year. Income averaging due to unusually low income in prior years might make a cash sale desirable. Seek professional assistance in analyzing
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