LO.4, 7 On June 1, 2010, Father sold land to Son for $300,000. Father reported the gain
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LO.4, 7 On June 1, 2010, Father sold land to Son for $300,000. Father reported the gain by the installment method, with the gain to be spread over five years. In May 2012, Son received an offer of $400,000 for the land, to be paid over three years. What would be the tax consequences of Son’s sale? How could the tax consequences be improved?
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Related Book For 
South Western Federal Taxation 2013 Individual Income Taxes
ISBN: 9781133189558
36th Edition
Authors: William Hoffman, James E. Smith
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