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Deductions & credits
I just looked at IRS Pub 537 for installment sales. It states "An installment sale is a sale of property where you receive at least one payment after the tax year of the sale." In this case, the money would be paid this year, and the sale finalized next year. That would make the tax year of sale 2022. Do I understand correctly then, that this would not be considered an installment sale?
‎October 25, 2021
4:46 PM