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September 30, 2021
Question

Are installments sales handle differently between PA and Fed

  • September 30, 2021
  • 1 reply
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I have a loss on the property so I filled out 4797- But some how PA sees the installment sale. Did i click something on the Fed to make PA see an installment sale.  I recording it as if a sold the property in 2020.

    1 reply

    Employee
    September 30, 2021

    See https://www.revenue.pa.gov/FormsandPublications/PAPersonalIncomeTaxGuide/Pages/Gains-Losses-Sale-Exchange-Disposition-Property.aspx (scroll down toward the end).

     

    There is no installment sale treatment for property sold at a loss.