Last Updated : January 14, 2009
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Form 6252

Installment Sale Income

Purpose of the form:

Use Form 6252 to report income from casual sales during this tax year of real or personal property (other than inventory) if the taxpayer will receive any payments in a tax year after the year of sale.

Do not complete Form 6252 for sales that do not result in a gain, even if the taxpayer will receive a payment in a tax year after the year of sale. Instead, report the entire sale on Form 4797 or Schedule D.

Do not file complete Form 6252 to report sales during the tax year of stock or securities traded on an established securities market. Instead treat all payments as received during this tax year.

Do not complete Form 6252 if the taxpayer elects not to report the sale on the installment Method.

The taxpayer can elect to use the installment method for reporting the full amount of the gain on Schedule D- Capital Gains and Losses  OR Form 4797- Sales of Business Property whichever applies by checking the boxes given on the top of the form.

Whether the activity is short term or long term will be decided by the period for which the asset was put to use.

Part –I of this form is to be completed for the year of sale. Part-II is completed both for the year of sale and for any year in which the taxpayer received an installment payment. Part-III is completed if the taxpayer sold the property to a related person.

Supported States

Supported States

Federal CA CO CT GA

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