Repossession of Personal Property from a Deferred Payment Sale Calculator
Determine the reportable gain or loss after a deferred payment sale repossession.
What This Number Means
Your calculated gain or loss is only one part of the decision. Before you report it, consider:
The reportable gain or loss from the repossession
How your original basis and payments received factor in
What your basis in the repossessed property becomes
Whether the result changes your current-year tax picture
Whether this affects any related bad debt deduction
How to Use This Calculator
1
Enter the original sale details: Add the sale price and your basis in the property.
2
Add payments received before repossession: Input the payments collected prior to the repossession.
3
Enter repossession costs: Add any costs incurred in taking the property back.
4
Review gain, loss, and new basis: See the reportable gain or loss and your new basis in the property.
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