Publication 537 |
2001 Tax Year |
What Is an Installment Sale?
An installment sale is a sale of property where you receive at
least one payment after the tax year of the sale. The installment sale
rules do not apply to the regular sale of inventory. See Sale of
a Business under Other Rules, later.
If you finance the purchase of your property, instead of having the
buyer get a loan or mortgage from a third party, you probably have an
installment sale. It is not an installment sale if the buyer borrows
the money from a third party and then pays you the total selling
price.
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