Changes to 2007 Form
Updates to 2007 Form 3805E – Installment Sale Income
The revised Internet version is available for download as of 02/28/2008.
Revision Details: To correct the line references. Currently taxpayers would underreport their additional interest amount, thus lowering their tax liability.
- This update is located on Form 3805E, Page 2, first column – how to report interest and on Page 563 of the Package X.
Individuals should include the amount on Form 540, line 36 or Long Form 540NR, line 45.
Individuals should include the amount on Form 540, line 33 or Long Form 540NR, line 41.