| CLIENT: |
Name |
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| Deferred Gain
Calculation |
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| SALE DATE:
8/4/98 |
2005 |
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| Enter data in
highlighted fields only |
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| Sale Price |
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45,000.00 |
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| Cost Basis |
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10,000.00 |
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Do not change this |
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| Gain: |
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35,000.00 |
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section after initial |
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year |
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| Gross Profit %
= Gain / Gross Proceeds: |
0.777778 |
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| Cash
received at closing |
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| Sale Price |
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45,000.00 |
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| Less land
contract/mortgage held back |
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5,000.00 |
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| Cash recognized
at closing |
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40,000.00 |
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gross profit % |
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x |
0.777778 |
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| Recognized
Gain |
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31,111.12 |
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| Deferred Gain
on Bldg: (total - recognized gain) |
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3,888.88 |
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| Gain recognized
in prior years on installment payments if
applicable |
0.00 |
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| Principal
Payments Received on Installment
Sale |
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| in
the current year |
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15,000.00 |
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| times
gross profit % |
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x |
0.777778 |
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| Gain recognized
in current year from |
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principal payments |
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11,666.67 |
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| Total gain
recognized to date on sale |
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42,777.79 |
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| Deferred Gain
Balance |
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-7,777.79 |
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