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Repossession of Personal Property from a Deferred Payment Sale Calculator

Enter the repossession details

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On the date of repossession. A price you bid at a public auction usually counts as the value.

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The amount of the sale price the buyer agreed to pay you later.

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Not interest.

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Legal fees, towing, moving and storage to get it back.

More options
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Value of cash or property the buyer gave you on top of the repossessed property.

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Interest you have included in income that was added to the note rather than paid.

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Use less than 100% if the buyer still owes part of the note after the repossession.

Decides how a loss is deducted.

Use this when you reported the whole gain in the year of sale instead of using the installment method. If you used the installment method, use the installment sale version.

Your repossession results

Gain or loss on the repossession

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Basis in the note cancelled

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Basis in the property you took back

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Note basis left after the repossession

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How the gain or loss is worked out

Your basis in the note, plus the costs of getting the property back, compared with what the property is worth.

StepAmount

Results are estimates for educational purposes and are not financial, tax or legal advice.

Work out the gain or loss when you take back personal property you sold on credit and reported in full in the year of sale, based on your remaining basis in the buyer’s note. Pair this with the rent calculator online for a fuller picture before you make a decision.