Installment Sales 2017 - 2 CPE Credit Hours

Installment Sales 2017 - 2 CPE Credit Hours

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An installment sale is a sale of property where one or more payments are received after the close of the tax year. This mini-course discusses the particulars of installment sales, including requirements, calculation and pitfalls. Cross issues such as a combined installment sale and like-kind exchange, the impact of related parties, pledging, repossession and contingent payments are reviewed. Also, the importance of recognizing the dangers of dealer status, inventory, purchase price allocation, and installment note disposition are emphasized.

 

Completion Deadline & Exam: This course, including the examination, must be completed within one year of the date of purchase. In addition, unless otherwise indicated, no correct or incorrect feedback for any exam question will be provided.

 

Course Level: Overview. This program is appropriate for professionals at all organizational levels.

 

Field of Study: Taxes

 

Prerequisite: General understanding of federal income taxation.

 

Recommended Credits: 2 CPE Hours 

 

Advanced Preparation: None

 

Learning Assignment & Objectives

As a result of studying the assigned materials, you should be able to meet the objectives listed below.

ASSIGNMENT

At the start of the materials, participants should identify the following topics for study:

* Installment method

* Installment income

* Imputed interest & OID

* Related party sales

* Like-kind exchanges

* Contingent payments or price

* Sale of a business

* Dealer dispositions

* Installment notes in excess of $5 million

* Dispositions of installment obligations

Learning Objectives

After reading the materials, participants will be able to:

1. Recognize the importance, particularly in tax deferral, of the installment method and, identify §453 requirements noting installment method terminology.

2. Specify the imputed interest, OID and §1038 repossession rules affecting installment sales and subsequent repossessions.

3. Identify the following §453 pitfalls and complexities:  the related party limitation, the regulations governing the use of the installment sale method in like-kind exchanges and the contingent payment sale rules.

4. Determine how to allocate and report installments payments among identified asset classes using R.R. 76-110 and the residual method noting §453 prohibitions on certain assets regarding dealer dispositions and inventory.

5. Identify the amount of interest payable on tax-deferred income when §453 dispositions exceed $5 million and circumstances considered taxable dispositions of installment obligations to determine when any gain or loss is recognized.

After studying the materials, answer the exam questions 1 to 10.





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  • I have taken multiple courses from The CPE Discount Store.  They have great customer support and I received my certificate of completion on the same day.
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  • The CPE Discount Store offers a great selection of online CPE courses.   I was able to complete my course on my time frame which is a great way to take CPE.  Having the book as a reference for future work was also helpful.
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5 STARS
This was a very interesting & informative book. The chapters were short and well laid out.
The test followed the book easily so it was a great test to cover the material. Highly recommend!
4 STARS
I have used the CPE subscription a few times now. I find it easy to check out books from the library or buy them & then take the test. It\'s very cost effective.

My request would be for more choices to be added. I have done many of them & cannot realistically repeat. Also, the books that have short chapters or bulleted points make it easier to follow along for test purposes
1 STARS
Overall it is good but I have few notes to make:

1. I suggest you add more courses.
2. Materials/Books are so long (400+ pages each courses). The ones I have taken. I would suggest they use more precise/short materials in the future.

Other than that the price is fair and I am considering renewing.
4 STARS
Either you re-did the course after jstone\'s review, or he/she confused this course with another one. The test for this course had 15 questions, not 120, and all of them were about material covered in the course. It was fine and I recommend it.

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