Common Contracts

Contract

July 6th, 2012

• Filed
  July 6th, 2012

downpayment) is $570,000. Thus, under para- graph (i)(3)(iii) of this section, assuming all contingencies are satisfied, the maximum amount of gross proceeds cannot be deter- mined with certainty. The greatest amount that can be determined with certainty at the time of the closing, assuming all contin- gencies are satisfied, is $570,000, the min- imum amount stated in the agreement. Therefore, $570,000 is the ‘‘maximum deter- minable proceeds’’ under paragraph (i)(3)(iii) of this section and is the amount reported. In addition, (to the extent required by the Form 1099 and its instructions) the reporting person must indicate that the gross proceeds cannot be determined with certainty. See paragraph (h)(1)(iv)(C) of this section.