RSCPA
Level 2
04-09-2021
01:13 PM
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2 years into an installment agreement on the sale of a business the gross sales price is adjusted and a new Gross Profit percentage is calculated using Worksheet B out of Publication 537. How do I get this new percentage in the Form 6252 so that the installment gain will calculate correctly?
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jeffmcpa2010
Level 11
04-09-2021
03:21 PM
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Option 1. change the appropriate information in Part 1 to the adjusted numbers.
Option 2. Override line 19.
RSCPA
Level 2
04-09-2021
03:50 PM
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Those were my ideas as well but just wanted to check with someone else to see if there was something I was missing.
Thanks,
