Homework Answers
Answer:
Given:
Mary will use installment sale method
Sale price = $1,000,000
Less: Basis = $100,000
Gain = $900,000
Gain % = 900000 / 1000000 = 90%
Amount Mary will include in gross income out of $100,000 cash received in 2020 = 100000 * 90% = $90,000
Amount Mary will include in gross income out of $100,000 cash received in 2020 = $90,000
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Question Material
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Question Material
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#2
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