Scenario : Business Sale with Installment Payments and Recapture
Sole proprietor sells a business, including equipment, for $
Terms: $ down payment, the rest over years.
Adjusted basis in the business assets:
Land: $
Equipment: $accumulated depreciation: $
Interest and Dividend Income: $
Itemized Deductions: $
Allowable deduction for selfemployment tax: None
Calculate:
Gain on the sale, type of gain ordinary capital, recapture
Taxable income recognized in the year of sale
AGI, Taxable Income, and Total Tax Liability for the year of sale
