Installment Sales Question 22 of 75 All of the following taxpayers would like to report a sale as an installment sale. Which of the following taxpayers may do so? O Jorge, who sold his entire inventory valued at $15,000 to Quentin for $23,000. Quentin intends to pay him $8,000 per year for the next three years. 0 Rowland, who sold a backhoe to Thomas for $5,000. Thomas made two payments, one payment of $2,500 on February 3, 2018, and one payment of $2,500 on December 15, 2018. Rowland paid $6,000 for the equipment whenwas new and had fully depreciated it before he sold it. 0 Carolyn, who sold a rental condo for $120,000. She purchased it for $75,000 and had claimed S25000 depreciation. Her buyer intends to pay $20,000 per year plus 6% interest for six years. Elena, who sold a plot of land for $52.000. She purchased it for S33,000 and paid S22.000 for improvements. Her buyer inends to pay for the land over five years. Mark for follow up Question 23 of 75 following taxpayers would be most likely to benefit from an instalment sale? A taxpayer who sold O Business-use land, for a gain. O A business-use car, at a net gain that was less than the amount of depreciation claimed. O Rental property, at a gain less than the amount of depreciation allowed. O A fishing boat, at a net loss. Mark for follow up Question 24 of 75 How is the installment sale of an entire business reported on the tax return