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On July 1, 2018, DJ sold equipment used in her business and reported the gain using the installment method. Her adjusted basis in the equipment
On July 1, 2018, DJ sold equipment used in her business and reported the gain using the installment method. Her adjusted basis in the equipment was $180,000. DJ sold the property for $250,000, with $100,000 due on the date of the sale and $150,000 (plus interest at the Federal rate) due on August 1, 2019. 1. What is DJ's realized gain? 2. How much gain is recognized in 2018? 3. How much gain is recognized in 2019
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