small), and I'm selling a car to an acquaintance and carrying a note with favorable terms (i.e. 0% interest). I assume, even though I'm a cash basis taxpayer, I have to recognize the full sales price as revenue and deduct 100% my cost of the inventory as COGS in 2024 right?

Is there some difference between a note receivable and an account receivable? If this is an account receivable would I only be taxed on the cash received? And if so, do I deduct the full cost or just a portion.

I think it's 100% recognized revenue and 100% deducted cost, but I'm not sure.

I know you tax guys aren't doing anything by the way. It's October 24th. So hop to 😉