Statutes, codes, and regulations
Arkansas Administrative Code
Agency 006 - Department of Finance and AdministrationDivision 05 - Division of RevenuesComprehensive Corporation Income Tax Regulations
Rule 26-51-404 - GROSS INCOME GENERALLY
Rule 3.26-51-404(a)(2) - Installment Sales of Real Estate

3.26 Ark. Code R. 51-404(a)(2)

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Current through Register Vol. 49, No. 10, October, 2024
Rule 3.26-51-404(a)(2) - Installment Sales of Real Estate

A taxpayer who sells real estate on an installment plan must include all installment payments received during any given tax year in the taxpayer's gross income for such tax year. The income from installment sales cannot be reported evenly over the life of the installment contract when payments are accelerated or delayed compared to the contractual amortization.

3.26 Ark. Code R. 51-404(a)(2)