The Installment Method Cannot Be Used to Report the Gain

question 52

Multiple Choice

The installment method cannot be used to report the gain on which of the following assets?

• A)Land used in a trade or business.
• B)Stock traded on a securities market.
• C)Building used in a trade or business.
• D)Stock in a privately-held business.

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Definitions:

Possesses

To have or hold property, items, or qualities, indicating ownership or control over such.

Receive

The act of accepting or taking possession of something that has been given, sent, or awarded to someone.

Destination Contracts

Contracts specifying that the seller is responsible for the delivery of goods to a specific destination.