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tsYffea/ Estate
Eileen M. Day realtor
REPORTING
INSTALLMENT
INCOME
If you sell a piece of property and the money will be paid to you in, say, three equal installments, how should you report the gain on your tax return?
You can either report your gains each year you receive them, or you can report the entire gain on your tax return for the year in which the sale was made. Often you can save taxes by delaying your income with an installment sale.
On your tax form, the return of your original investment is untaxed, your profit will probably be taxed at capital gains rates, and any interest from the installment sale is counted as ordinary income.
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