In the year of disposition the adjustment will be a subtraction for gain attributable to installment payments to be made in future taxable years provided that (i) the gain arises from an installment sale for which
federal law does not permit the dealer to elect installment reporting of
income, and (ii) the dealer elects installment
treatment of the
income for Virginia purposes
on or before the due date prescribed by law for filing the taxpayer's
income tax return.