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When is a non-refundable deposit from the sale of real estate(commercial real estate) taxable.
If payment is received more than a year before the property is sold.
Is it taxable in year of sale or when received and is it ordinary income or capital gain is sale does not go through?
If the sale goes through It is just part of payment or is this an installment sale - even though the property is not sold yet - a year and half later?