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26 on September 30, Silver Corporation, a calendar year taxpayer, sold a LO.1,2,3 for a $1 million note. The note is parcel (basis of $400,000

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26 on September 30, Silver Corporation, a calendar year taxpayer, sold a LO.1,2,3 for a $1 million note. The note is parcel (basis of $400,000 Silver did payable in five installments, with the first payment due next year. Because year. not elect out of the installment method, none of the $600,000 gain is taxed this

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