Installment Sale With Contingent Payments
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FAQ
Closed transaction: Taxpayers treat the transaction as completed despite the existence of the contingency; Open transaction: Sellers recognize the gain when basis is recovered; and. Installment sales: Sellers recognize the income proportionately as the taxpayer receives the consideration from the sale.
Contingent considerations should be recorded on the date of acquisition. They'll be listed at fair value either as a liability or equity. In most cases, you'll recognize the consideration as a liability. However, if a fixed number of shares is involved, the consideration would qualify as equity.
From the perspective of a seller, a contingent consideration arrangement (which creates an unconditional obligation on the part of the buyer) creates an unconditional right on the part of the seller to additional consideration that meets the conceptual definition of an asset in Concepts Statement 6.
Contingent considerations should be recorded on the date of acquisition. They'll be listed at fair value either as a liability or equity. In most cases, you'll recognize the consideration as a liability. However, if a fixed number of shares is involved, the consideration would qualify as equity.
An example of a contingent payment sale may occur when a company is under contract to purchase another company, but the sale will be completed several months out. The final sale price of the target company will be determined by the target company's sales for the remainder of the year.