There are some special rules under 453 that may or may not allow a builder to report on the installment method.

Report the income and interest on the Schedule C. Bypass the 6252 if it won't go to Schedule C.

EDIT: If you determine that the installment method is allowed, do the calculation manually to determine how much income is reportable this year and include that amount on Schedule C.

I have a business that subdivides old farms and sells undeveloped lots. That qualifies for installment sale reporting and this is how I do it.