...PERSONAL PROPERTY. — (1) IN GENERAL. — Under regulations prescribed by the Secretary or his delegate, a person who regularly sells or otherwise disposes...payments actually received In that year which the gross profit, realized or to be realized when payment is completed, bears to the total contract price....

...basis in the partnership interest was $90,000. Section 453 (a) of the Code provides, in part, that a person who regularly sells or otherwise disposes...payments actually received in that year which the gross profit, realized or to be realized when payment is completed, bears to the total contract price....

...— (1) In OBHBRAL. — Under regulations prescribed by the Secretary or his delegate, a person woo regularly sells or otherwise disposes of personal...payments actually received In that year which the gross profit, realized or to be realized when payment IB completed, bears to the total contract price....

...regulations prescribed by tbe Commissioner with the approval of tbe Secretary, a person who regularly sella or otherwise disposes of personal property on the...Installment payments actually received In that year whlcb the cross profit realized or to be realized when payment Is completed, bears to tbe total contract...

...Code provides that, under regulations prescribed by the Secretary of the Treasury or his delegate, a person who regularly sells or otherwise disposes...taxable year that proportion of the installment payments received in that year which the gross profit, realized or to be realized when payment is completed,...

...370* dollars. LAW AND ANALYSIS Section 453 (a) (1) of the Code provides that a person who sells or disposes of personal property on the installment plan...payments actually received in that year which the gross profit, realized or to be realized when the payment is completed, bears to the total contract...

...44. INSTALLMENT BASIS. (•) DEALERS IN PERSONAL PROPERTY. — Under regulations prescribed by the Commissioner with the approval of the Secretary, a...Installment plan may return as Income therefrom In any Unable year that proportion of the Installment payments actually received In that year whlcb the gross...

...installment payment. LAW AND ANALYSIS Section 453 (a) of the Code provides that a person who regularly sells personal property on the installment plan may return...payments actually received in that year which the "gross profit, realized or to be realized" when payment is completed, bears to the "total contract...

...of real property on installment plan. • * * the vendor may return as Income from such transactions in any taxable year that proportion of the installment...the total profit realized or to be realized when the property is paid for bears to the total contract price. It is to be observed that neither the statute...

...amended return attempting to revoke the election. Section 453 (a) of the Code provides, in part, that a person who regularly sells or otherwise disposes...may return as income therefrom in any taxable year a proportion of the installment payments actually received in each year. Section 453 (b) of the Code...