indyscott Posted March 31, 2008 Report Posted March 31, 2008 I have a rental property with several associated separately entered improvements which the taxpayer sold on an installment contract to the buyer. Can I enter assign these several assets to a "bulk sale" and treat it as an installment sale? I've created a bulk dispostion, but when I go to each item to record the disposition I have to choose between Installment sale, and the bulk disposition. How do I make the bulk disposition into an installment sale? Quote
barosser Posted March 31, 2008 Report Posted March 31, 2008 I dont believe that you can bulk sale and Installment. When you click disposition choose installment sale. Quote
indyscott Posted March 31, 2008 Author Report Posted March 31, 2008 that's what I'm doing.. I made a spreasheet to allocate installment payments received to the various assets.. Quote
Joel Posted March 31, 2008 Report Posted March 31, 2008 You can do a bulk disposition on an installment sale. As long as all of the assets are of the same class they can be assigned to the bulk installment sale when you select each asset in the asset manager. Quote
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.