How do you elect out of an installment sale

[Marie]

Client wants to report complete sale in year of sale. Where's the election? In the election/statements? on the Sch D? or by reporting the whole sale, by default are we electing out?

[RitaB]

Marie, I found this, hope it helps:

http://www.irs.gov/taxtopics/tc705.html

[Marie]

Looks like all I have to do is report and I've elected out. Almost too easy.

[RitaB]

I know - scary, isn't it? Especially considering our other issues of late.