Fillable Form 6252 - Installment Sale Income

Form 6252 (2015)

Page

amount of the refinanced debt

If there is no stated maximum selling

• Deductions claimed under section

immediately before the refinancing. Also,

price, such as in a contingent payment

1253(d)(2) and (3) (as in effect before

the pledge rule does not affect

sale, attach a schedule showing the

enactment of P.L. 103-66).

refinancing due to the calling of a debt

computation of gain. Enter the taxable

• Basis reduction to investment credit

by the creditor if the debt is then

part of the payment on line 24 and also

property.

refinanced by a person other than this

on line 35 if Part III applies. See

Subtract the following recapture

creditor or someone related to the

Temporary Regulations section

amounts and credits previously allowed

creditor.

15A.453-1.

with respect to the property.

Interest on Deferred Tax

Line 6

• Section 179 or 280F.

Generally, you must pay interest on the

Enter only mortgages or other debts the

• Clean-fuel vehicles and refueling

deferred tax related to any obligation

buyer assumed from the seller or took

property.

that arises during a tax year from the

the property subject to. Do not include

disposition of property under the

new mortgages the buyer gets from a

• Investment credit amount.

installment method if:

bank, the seller, or other sources.

• Credit for employer-provided childcare

• The property had a sales price over

facilities and services.

Line 8

$150,000, and

• Alternative motor vehicle credit.

Enter the original cost and other

• The aggregate balance of all nondealer

expenses you incurred in buying the

• Alternative fuel vehicle refueling

installment obligations arising during,

property. Add the cost of improvements,

property credit.

and outstanding at the close of, the tax

etc., and subtract any casualty losses

year is more than $5 million.

• Qualified plug-in electric drive motor

and any of the following credits

vehicle credit.

You must pay interest in subsequent

previously allowed with respect to the

• Qualified plug-in electric vehicle credit.

years if installment obligations that

property.

originally required interest to be paid are

• Qualified electric vehicle credit.

• Nonbusiness energy property credit.

still outstanding at the close of a tax

• Residential energy efficient property

Line 11

year.

credit.

Enter sales commissions, advertising

The interest rules do not apply to

• Adoption credit.

expenses, attorney and legal fees, and

dispositions of:

• District of Columbia first-time

other selling expenses incurred to sell

• Farm property,

homebuyer credit.

the property.

• Personal use property by an individual,

• Disabled access credit.

Line 12

• Real property before 1988, or

• New markets credit.

Any ordinary income recapture under

• Personal property before 1989.

• Credit for employer-provided childcare

section 1245 or 1250 (including sections

See section 453(l) for more information

facilities and services.

179 and 291) is fully taxable in the year

on the sale of timeshares and residential

of sale even if no payments were

• Energy efficient home credit.

lots under the installment method.

received. To figure the recapture

• Alternative motor vehicle credit.

How to report the interest. The interest

amount, complete Form 4797, Part III.

• Alternative fuel vehicle refueling

is not figured on Form 6252. See Pub.

The ordinary income recapture is the

537 for details on how to report the

property credit.

amount on line 31 of Form 4797. Enter it

interest.

on line 12 of Form 6252 and also on line

• Qualified railroad track maintenance

13 of Form 4797. Do not enter any gain

credit.

Additional Information

for this property on line 32 of Form 4797.

• Enhanced oil recovery credit.

If you used Form 4797 only to figure the

See Pub. 537 for additional information,

• Qualified plug-in electric drive motor

recapture amount on line 12 of Form

including details about reductions in

vehicle credit.

6252, enter “N/A” on line 32 of Form

selling price, the single sale of several

4797. Partnerships and S corporations

• Qualified plug-in electric vehicle credit.

assets, like-kind exchanges, dispositions

and their partners and shareholders, see

of installment obligations, and

• Qualified electric vehicle credit.

the Instructions for Form 4797.

repossessions.

For additional information, see Pub.

Line 14

551, Basis of Assets.

Specific Instructions

Do not file Form 6252 if line 14 is zero or

Line 9

Part I—Gross Profit and

less. Instead, report the entire sale on

Enter all depreciation or amortization you

Form 4797, Form 8949, or the Schedule

Contract Price

deducted or were allowed to deduct

D for your tax return.

from the date of purchase until the date

Line 5

Line 15

of sale. Adjust the depreciation or

Enter the total of any money, face

amortization amount by adding any of

If the property described on line 1 was

amount of the installment obligation, and

the following deductions previously

your main home, you may be able to

the FMV of other property or services

taken with respect to the property.

exclude part or all of your gain. See Pub.

that you received or will receive in

523, Selling Your Home, for details.

• Section 179 expense.

exchange for the property sold. Include

• Commercial revitalization deduction.

Part II—Installment Sale

on line 5 any existing mortgage or other

• Deduction for clean-fuel vehicles and

debt the buyer assumed or took the

Income

property subject to. Do not include

refueling property.

stated interest, unstated interest, any

Line 19

• Deductions claimed under sections

amount recomputed or recharacterized

190 and 193.

Enter the gross profit percentage

as interest, or original issue discount.

(expressed as a decimal amount)

determined for the year of sale even if

you did not file Form 6252 for that year.

Form 6252 - Installment Sale Income - 2015 Page 3

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