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Question 52 of 75. All of the following taxpayers would like to report the sale...

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Accounting

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Question 52 of 75. All of the following taxpayers would like to report the sale of property as an installment sale. Which of the following taxpayers is eligible to do so? Anna. She sold her entire inventory of personal property valued at $16,000 to Louise for $23,000. Louise intends to pay her $8,000 per year for the next three years. Jake. He sold a skid-steer loader to Jorge for $5,000. Jorge made two payments, one payment of $2,500 on February 3, 2020, and one payment of $2,500 on December 15, 2020. Jake paid $6,000 for the loader when it was new, and he had fully depreciated it. Marline. She sold a rental home for $120,000. She purchased it for $85,000 and had claimed $25,000 depreciation. Her buyer intends to pay $20,000 per year plus 5% interest for six years, O Quinn. He sold a plot of land for $51,000. He purchased it for $34.000 and paid $21,000 for improvements. His buyer intends to pay for the land over five years. Mark for follow up

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