If the proceeds from the sale of property will be collected over a period of more than one year, a taxpayer is required to use the installment method.

Question

Quizplus · Accepted Answer

The taxpayer has the option to use the installment method for reporting income from the sale of property if payments are received over more than one year, but it is not a requirement. They can choose to report the entire gain in the year of sale if they prefer.

If the Proceeds from the Sale of Property Will Be