Inerited installment sale income

[WhiteOleander]

If the receiver dies, wow that could be a massive financial burden if an installment agreement was stretched over many years. That seems overly burdensome especially since the payer probably couldn't afford to get a loan any other way to begin with. I have my doubts on that one and it certainly isn't tax law.

My opinion was that on this case we would AT LEAST report imputed interest. I'll have to meet with the attorney I guess and demand some information. My sister-in-law has been talking with him but that's not going to cut it.

I was asking Taxea to back up her statement.

[ChEAr$]

BAck to basics for a moment. When a payee receiving installment amounts dies, his estate succeeds and stands in place of the decedent. Neither it nor any inheritor of the decedent has any right to demand settlement of the balance.

I'm no lawyer, but at least I remember that much from law courses in college.

[taxea]

The information was provided based on my knowledge and experience. You will have to do your own research on this one and, of course, it wouldn't be a tax law.

[WhiteOleander]

The information was provided based on my knowledge and experience. You will have to do your own research on this one and, of course, it wouldn't be a tax law.

So, you don't know.