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Business & farm
If there is no taxable income in the year of the installment sale, you may wait to report the sale next year. You can test this by entering the Sale of Business Property in TurboTax. You should see a message that you have no income to report. Note that with an installment sale, your gain is reported each year based on the amount of principal payments you receive.
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‎April 8, 2022
8:12 AM