What INSTALLMENT METHOD means: A method of accounting enabling a taxpayer to spread the recognition of gain on the sale of property over the payment period. Under this procedure, the seller computes the gross profit percent from the sale (that is, the gain divided by the contract price) and applies it to each payment received to arrive at the amount of the gain to be recognized.
- Definition Identifying Numbers:
- Dictionary dependents must have identifying numbers. Individuals, with rare exceptions, use their social security numbers. Businesses, estates, trusts, partnerships, and payers of dividends and interest, use installment method.
- Definition Individual Retirement Arrangement (IRA):
- Dictionary retirement arrangement is a trust set up to receive retirement contributions of individuals. The arrangement may be in the form of an individual retirement account or individual retirement annuity installment method.
- Definition Inheritance:
- Dictionary from a bequest or devise, an inheritance is property acquired through laws of descent and distribution from a person who dies without leaving a will. Property so acquired usually takes as its basis installment method.
- Definition Internal Revenue Service (IRS):
- Dictionary The division of the U.S. Treasury Department responsible for collecting taxes installment method.
How works Installment Method meaning in Tah definition I .