Question

which of the following taxpayers would be most likely to benefit from an installment sale? A taxpayer who sold:

Business use land, sold for a gain

a business use car sold at a net gain that was less than the amount of depreciation claimed

rental property sold at a gain less than the amount of depreciation allowed

a fishing boat sold at a net loss

Answer 1

Answer:

Business use land, sold for a gain

Explanation to the answer:

A taxpayer who sold who has sold business use land with gain taxpayers will likely for benefit from installment sale.

A taxpayer who sold who has business use car sold at a net gain that was less than the amount of depreciation claimed will not likely for benefit from installment sale.

A taxpayer who sold who has rental property sold at a gain less than the amount of depreciation allowed will not likely for benefit from installment sale.

A taxpayer who sold who has fishing boat sold at a net loss fishing boat sold at a net loss for benefit from installment sale.