### Question
What does installment sale mean?


### Answer
**Installment sale** has the following meaning in *26 U.S.C. § 453*:

> a disposition of property where at least 1 payment is to be received after the close of the taxable year in which the disposition occurs

#### Citation:
  - *26 U.S.C. § 453*
  - Heading: **Subtitle A-Income Taxes > CHAPTER 1-NORMAL TAXES AND SURTAXES > Subchapter E-Accounting Periods and Methods of Accounting > PART II-METHODS OF ACCOUNTING > Subpart B-Taxable Year for Which Items of Gross Income Included**

