An installment sale is any sale where at least a portion of the sales proceeds is received in a subsequent taxable year.

Question

Quizplus · Accepted Answer

An installment sale involves the receipt of at least a portion of the sales proceeds in a year after the sale is made. This means that the seller receives payment in installments over a period of time, rather than all at once at the time of the sale. This type of sale may have tax implications, as the seller may have to report the income from the sale over multiple tax years.

An Installment Sale Is Any Sale Where at Least a Portion