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Megan C
Megan C, Certified Public Accountant (CPA)
Category: Finance
Satisfied Customers: 16580
Experience:  Licensed CPA, CFE, CMA, CGMA who teaches accounting courses at Master's Level
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Follow up.... Since its an installment sale...the 338,000

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Follow up....

Since it's an installment sale...the 338,000 is going to be a 7 year term 25 year amortization...with a balloon payment. Would just the 338,000 be the installment protion anf the 1.5 million be taxed up front?
Thanks for your follow up. You are correct. The $338 portion could be an installment, if you so choose (you can elect to recognize entire gain this year if you wanted). The rest would be taxed this year, the year of the buyout.

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Thanks so much, Ron for the positive rating(s) and generous bonuses! I truly appreciate it. If you need anything at all, you know where to find me. Thanks again!
Customer: replied 3 years ago.

Yuo're welcome. Thank you!