Form 6252 Installment Sale Income 2011

Summary: This is an example of Form 6252 (2011) with items included as described in the text. Additionally, these line items are completed:

Name(s) shown on return field contains Cora Blue
Identifying number field contains 095-00-0000
1. Description of property field contains Oil painting – Inheritance
2a. Date acquired (mm/dd/yyyy) field contains 07/03/1997
2b. Date sold (mm/dd/yyyy) field contains 12/11/2010
Under Part II: Installment Sale Income. Complete this part for the year of sale and any year you receive a payment or have certain debts you must treat as a payment on installment obligations.:
- 19. Gross profit percentage (expressed as a decimal amount). Divide line 16 by line 18. For years after the year of sale, see instructions field contains .227
- 20. If this is the year of sale, enter the amount from line 17. Otherwise, enter 0 field contains 0
- 21. Payments received during the year (see instructions). Do not include interest, whether stated or unstated field contains 1,806
- 22. Add lines 20 and 21 field contains 1,806
- 23. Payments received in prior years (see instructions). Do not include interest, whether stated or unstated field contains 700
- 24. Installment sale income. Multiply line 22 by line 19 field contains 410
- 25. Enter the part of line 24 that is ordinary income under the recapture rules (see instructions) field contains 0
- 26. Subtract line 25 from line 24. Enter here and on Schedule D or Form 4797 (see instructions) field contains 410