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Betty sold a plot of land (basis $10,000) on August 1, 2018 to Craig for $15,000. Craig paid $2,500 during 2018 and will pay $2,500
Betty sold a plot of land (basis $10,000) on August 1, 2018 to Craig for $15,000. Craig paid $2,500 during 2018 and will pay $2,500 each year plus interest for the next six years. What is Betty's taxable gain for 2018 using the installment method?
$833.
$1,667.
$2,500.
$5,000
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