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Get your taxes done using TurboTax
Is it considered an installment sale if just $1million of a $29million asset sale was put in escrow for two years to ensure all the reps and warrantees are met? If so, do I still report the total $29million on the Form 8594 or only the portion that I receive in this tax year? (I believe yes). And on form 6252 do i report the selling price of only the $28million i received this year? (I believe yes).
‎December 13, 2024
7:30 AM