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    disposition of installment sale (bankruptcy)

    dmr
    Level 2
    ‎04-13-2021 04:30 PM

    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 Comment 1
    dkh
    Level 15
    ‎04-19-2021 10:19 AM

    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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