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Unformatted text preview: Case#1 FACTS: Regala, Inc sells timeshares in Hawaii. Matt buys a timeshare out of the inventory of timeshares for sale by Regala. His purchase allows him access one week per year for life to a 2-bedroom unit at Regalas Honolulu resort. Matt agrees to pay them $10,000 down and Regala, Inc finances a 7-year note for the balance of the purchase price at the current market rate of interest. QUESTION: Can Regala use the installment method to report its gain on the sale of the timeshare interest to Matt? Case #2 Chapter 4, Research Case #81...
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This note was uploaded on 08/25/2010 for the course TAX 6845 taught by Professor Kelliher,c during the Spring '08 term at University of Central Florida.
- Spring '08