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Typo: Under References, CA OPM 0242 should be written as CA OPM 2.42 Typo: Under References, PHOENIX Document # PP2.5.6.11, Procedure Creation should be written as Procedure Preparation Guidelines
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PP 2 5 6 stands for Form 6252: Installment Sale Income.
Who is required to file pp 2 5 6?
Taxpayers who have sold property on an installment plan are required to file Form 6252 (pp 2 5 6).
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Form 6252 (pp 2 5 6) should be completed with details of the installment sale, including the gross profit percentage, installment sale income, and any special tax treatment applicable.
What is the purpose of pp 2 5 6?
The purpose of Form 6252 (pp 2 5 6) is to report installment sale income and calculate any tax liabilities associated with such sales.
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Form 6252 (pp 2 5 6) requires reporting of details such as the installment sale income, gross profit percentage, and any tax adjustments or special treatment applicable.
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