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– Throughout this course, many discussion opportunities come up where you need to respond to other people’s opinions and comments. Address the Discussion topic after you have completed your reading.
Use your favorite search engine to find the IRS’ website and locate Publication 537: “Installment Sales.” After reviewing that publication, answer the following questions:
Which form is used to report an installment sale?
What are the requirements to report a sale on the installment basis for tax purposes?
If the taxpayer receives money over several periods, why would a taxpayer want to report a sale on the installment basis, rather than in the tax period when the sale originated?
How would you advise your tax client whether or not to elect the installment method? That is, what factors would you incorporate in that recommendation?
Provide specific details to support your opinions in your response.
Please review the Discussion Board Participation grading rubric under Course Resources. This is important information that will ensure that you earn maximum points.
Your postings should be qualitative and provide substantive depth that advances the Discussion.
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