MYCPE ONE

Installment Sale: Basics, Calculations and Reporting 1.5 Credits 1.5 Credits

Dec 07, 2023, 02:00 PM EDT

Installment Sale: Basics, Calculations and Reporting 1.5 Credits 1.5 Credits

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Dec 07, 2023, 02:00 PM EDT

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Important Note: This course was developed prior to the enactment of the One Big Beautiful Bill (OBBB), and content may not reflect the latest tax reforms. We are actively updating our courses to reflect the new legislation.

If you want to attend courses related to OBBB, please click here.
AI Review Summary

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Learning Objectives

  • To identify which types of sales, taxpayers, assets, and forms of taxable income qualify for installment sale reporting under the Internal Revenue Code.
  • To explain the basics of completing IRS Form 6252.
  • To explain basic tax and non-tax considerations when structuring and disposing of an installment sale note.

Course Overview

This course is valid up to December 31st, 2023 for CFP Professionals. It is advisable to complete this course before that to process the credit on time.

With a proposed increase to ordinary income tax rates and long-term capital gains rates, income tax deferral has become a hot-button issue for clients. A technique that has picked up steam in the face of tax reform is the installment sale, which can defer capital gains when structured correctly.

When you sell something for more than you paid for it, you report the income on your taxes for the year in which the sale took place. Sometimes, though, the buyer spreads the payments out over more than one year. In that case, it’s what the Internal Revenue Service(IRS) refers to as an installment sale. Taxpayers use Form 6252 to report income from installment sales.

Join Griffin Bridgers, JD, LL.M in this CPE/CE webinar for a look at the following topics:

  • What qualifies for installment sale treatment?
  • How to elect in and out of installment sale treatment?
  • How to calculate the gross profit percentage?
  • Issues and pitfalls in structuring an installment sale
  • Which assets qualify for installment sale reporting?
  • How to deal with the recapture of prior cost recovery deductions in an installment sale?
  • Issues with related parties and dispositions of notes
  • IRS Form 6252.

Click here to view more webinars on IRS-approved courses

On Demand Credits for All Qualifications

Live Webinar Credits for All Qualifications

License details Credits Status
Taxes for Certified Public Accountants (CPA-US) 1.5 CPE Approved
Federal tax-related matters for Enrolled Agents (EA) (Approval No. GEHNZ-T-02451-25-S) (Valid upto : Dec 31, 2028) 1 CE Approved
Federal tax-related matters for Annual Filing Season Program (AFSP) (Approval No. GEHNZ-T-02451-25-S) (Valid upto : Dec 31, 2028) 1 CE Approved
Federal tax-related matters for California Registered Tax Preparers (CRTP) (Approval No. 6273-CE-00887) 1 CE Approved
Federal tax-related matters for Oregon Registered Tax Preparers (ORTP) (Approval No. GEHNZ-T-02451-25-S) (Valid upto : Dec 31, 2024) 1 CE Approved
Federal tax-related matters for Maryland Tax Preparer (MRTP) (Approval No. GEHNZ-T-02451-25-S) (Valid upto : Dec 31, 2028) 1 CE Approved
Taxes for Delaware Licensed Public Accountant (DE-LPA) 1.5 CPE Approved
Federal tax-related matters for LTC (Approval No. GEHNZ-T-02451-25-S) (Valid upto : Dec 31, 2028) 1 CE Approved
Taxes for Iowa Licensed Public Accountant (IA-LPA) 1.5 CPE Approved
Taxes for Maine Licensed Public Accountant (ME-LPA) 1.5 CPE Approved
License details Credits Status
Taxes for Certified Public Accountants (CPA-US) 1.5 CPE Approved
Federal tax-related matters for Enrolled Agents (EA) (Approval No. GEHNZ-T-00744-21-O) 1 CE Approved
Federal tax-related matters for Annual Filing Season Program (AFSP) 1 CE Approved
Tax Planning for Certified Financial Planner (CFP-US) (Approval No. 310378) 1.5 CE Approved
Federal tax-related matters for California Registered Tax Preparers (CRTP) (Approval No. 6273-CE-00887) 1 CE Approved
Federal tax-related matters for Oregon Registered Tax Preparers (ORTP) (Approval No. GEHNZ-T-00744-21-O) 1 CE Approved
Federal tax-related matters for Maryland Tax Preparer (MRTP) (Approval No. GEHNZ-T-00744-21-O) 1 CE Approved
Taxes for Delaware Licensed Public Accountant (DE-LPA) 1.5 CPE Approved
Federal tax-related matters for LTC (Approval No. GEHNZ-T-00744-21-O) 1 CE Approved
Taxes for Iowa Licensed Public Accountant (IA-LPA) 1.5 CPE Approved
Taxes for Maine Licensed Public Accountant (ME-LPA) 1.5 CPE Approved

Additional Information

Credits

1.5

Credits

1.5

Course Level

Basic

Instructional Method

QAS Self Study

Group Internet Based

Pre-requisites

None

Advance Preparation

None

NASBA APPROVED

MY-CPE LLC, 1600 Highway 6 south, suite 250, sugar land, TX, 77478

MY-CPE LLC is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org.

IRS APPROVED

MY-CPE LLC, 1600 Highway 6 south, suite 250, sugar land, TX, 77478

MY-CPE LLC (Sponsor Id#: GEHNZ) has entered into an agreement with the Internal Revenue Service, to meet the requirements of 31 Code of Federal Regulations, section 10.6(g), covering aintenance of attendance records, retention of program outlines, qualifications of instructors, and length of class hours. This agreement does not constitute an endorsement by the IRS as to the quality of the program or its contribution to the professional competence of the enrolled individual. Credit earned by attendees with a PTIN will be reported directly to the IRS as required of all providers. To ensure your CPE hours are reported, update your profile in My Account to include your PTIN number. Please note: IRS CE is only mandatory for EAs and ERPAs. For all other tax return preparers, CE is voluntary.

CTEC APPROVED

MY-CPE LLC, 1600 Highway 6 south, suite 250, sugar land, TX, 77478

MY-CPE LLC, in accordance with the standards set forth in Circular 230 section 10.6, grants Continuing Education (CE) credits based on a 50-minute hour. MY-CPE LLC is approved by the California Tax Education Council (CTEC) (Provider Number – 6273) to offer continuing education courses that count towards the annual continuing education requirement for CTEC Registered Tax Preparers. Additional information regarding registration as a tax preparer can be obtained by contacting CTEC at P.O. Box 2890, Sacramento, CA, 95812-2890, toll-free at (877) 850-2832, or by visiting www.ctec.org.

About Instructor

Griffin Bridgers

Griffin Bridgers | J.D., LL.M

Senior Attorney, Hutchins & Associates

  • 4.6
  • rating
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Griffin Bridgers, JD., LL.M., is a partner with the law firm of Hutchins & Associates LLC in Denver, Colorado.  Griffin specializes in estate and income tax planning for high net worth individuals.  Griffin is also a frequent speaker and educator, both online and in person, and he provides tax and estate planning updates through digital media through his YouTube channel and on an individual basis for clients and wealth professionals.  Griffin also uses his advanced tax and estate planning knowledge on an individual, non-attorney basis to serve as a market expert on the delivery of planning services, and he advises wealth advisors and CPAs on the use of planning strategists and bespoke digital media to grow their client base.  

On Demand FAQs

What is Self Study (QAS)?

Self Study QAS (Quality Assurance Service) is a NASBA and other regulatory bodies approved program designed for Professionals to complete their Continuing Professional Education credits through self-paced, interactive courses that meet the highest standards of quality and compliance. Our courses qualify for credits with NASBA, IRS, CFP Board, HRCI, SHRM, Payroll Org, FP Canada, and 25+ other professional organizations.

How do I earn CPE credits through self-study?

To earn CPE credits, you must complete the self-study course, pass the required assessments, and submit the necessary documentation. Credits are awarded based on the completion of course hours and successfully passing the assessments.

Are the self-study courses accepted by NASBA and other professional organizations?

MY-CPE LLC courses are accepted for continuing education credit by various professional certification programs, including NASBA, IRS, CFP Board, and HRCI. MY-CPE LLC is also recognized by SHRM to offer Professional Development Credits (PDCs) for SHRM-CP® and SHRM-SCP® recertification activities.

What are the requirements to maintain compliance with self-study courses?

To maintain compliance, you must follow the guidelines set by NASBA and other regulatory bodies, which include completing the course within the specified timeframe, passing the assessments, and keeping accurate records of your learning activities.

How can I access my course completion certificates?

After successfully completing a self-study course and passing the assessments, you can access and download your course completion certificates from your account dashboard on our platform. These certificates are recognized by NASBA, IRS, CFP Board, HRCI, SHRM, Payroll Org, FP Canada, and 25+ other professional organizations for compliance and reporting purposes.

How are credits reported to governing bodies?

We issue instant credit certificates, ensuring they are valid for presentation to governing bodies. Typically, we report IRS, CTEC, CFP, IDFP, IWI, VBOA Ethics credits within 7 days – the fastest in the industry.

Live Webinar FAQs

What is a Live Webinar Group Internet-Based Credit?

A Live Webinar Group Internet-Based Credit is an interactive, real-time online seminar where professionals can earn Continuing Education credits by participating in live sessions led by experts in various fields. Our courses qualify for credits with NASBA, IRS, CFP Board, HRCI, SHRM, Payroll Org, FP Canada, and 25+ other professional organizations.

How do I earn credits through live webinars?

To earn credits, you must attend the entire live webinar, actively participate in any polls or questions, and complete any required evaluations or assessments. Credits are awarded based on your attendance and participation in the live session.

Are the live webinars accepted by NASBA and other Professional Organizations?

MY-CPE LLC courses are accepted for continuing education credit by various professional certification programs, including NASBA, IRS, CFP Board, and HRCI. MY-CPE LLC is also recognized by SHRM to offer Professional Development Credits (PDCs) for SHRM-CP® and SHRM-SCP® recertification activities.

What are the requirements to maintain compliance with live webinar courses?

To maintain compliance, you must adhere to the guidelines set by NASBA and other regulatory bodies, which include attending the full duration of the webinar, participating in interactive elements, and completing any post-webinar evaluations or assessments.

How can I access my webinar completion certificates?

After successfully attending a live webinar and fulfilling all participation requirements, you can access and download your completion certificates from your account dashboard on our platform. These certificates are accepted for compliance and reporting purposes with NASBA, IRS, CFP Board, HRCI, SHRM (for PDCs), Payroll Org, FP Canada, and 25+ other professional organizations.

How are credits reported to governing bodies?

We issue instant credit certificates, ensuring they are valid for presentation to governing bodies. Typically, we report IRS, CTEC, CFP, IDFP, IWI, VBOA Ethics credits within 7 days – the fastest in the industry.

Reviews and Ratings

out of 5

Excellent (67%)

Very Good (26%)

Average (7%)

Poor

Terrible

TP

Tatiana Pekina, CPA (US)

5

The course is very informative, well-structured and presents the concept of installment sale in an excellent way. I learned so much for this very complicated way of reporting.

AL

Anne Lennstrom, AFSP

5

great class .. knowledgeable instructor .. learned info needed to know for installment sale of rental property and forms required for irs ..

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Installment Sale

Inclusions

  • Multiple Credits

    Multiple Credits

    Earn continuing education credits with flexibility. Choose from live webinars, on-demand courses, e-books, or podcasts to fit your learning style and schedule.

  • Certifications & Reporting

    Certifications & Reporting

    We issue instant credit certificates, ensuring they are valid for presentation to governing bodies. Typically, we report IRS, CTEC, CFP, IDFP, IWI, VBOA Ethics credits within 7 days - fastest in the industry.

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    Credit Tracker

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  • Certificate Vault

    Certificate Vault

    Certificate Vault to upload, manage, and access certificates earned from various sources and an integrated credit tracker, allowing users to monitor and manage their credits conveniently for compliance.

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  • Mobile App Access

    Mobile App Access

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  • Live Support

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    Our support team is available via live chat, email, and phone from 9 AM to 5 PM ET. We're here to help with any questions or issues, ensuring you have a seamless experience.

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