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D
dmr
Level 3
April 13, 2021

disposition of installment sale (bankruptcy)

  • April 13, 2021
  • 1 reply
  • 4 views

How can I report the disposition of installment sale.  Buyer filed bankruptcy, no income to my client and she can't retrieve anything from the shop.  I am thinking just on schedule D

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    1 reply

    dkh
    dkh
    Level 15
    April 19, 2021

    Taxpayer takes back possession of property - correct?    No payments received then there's no income to report.  Don't know if it Is necessary to report anything to IRS.   Possibly mark 6252 as final???   What would you put on Schedule D?

     

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