Both items are addressed in the opening post.

First...….since you bot depreciable property, ie the tractor, it makes no difference how or when you pay for it, as long as you have an obligation to pay for it.

It is section 1245 property, and is depreciable when it is available for service.

With respect to the toolbar, two points------- first, since it is likely depreciable property, it would be section 1245 and any depreciation taken in prior year (to the extent of the sales price) is recaptured as ordinary income in the year of sale------ in your case, December.  If the sales amount exceeds the original cost, then that excess over original cost would be income under installment method when it is received.  But, the depreciation taken to extent of sales price would be recaptured in year of sale, regardless of when cash is received.

Second, if it is NOT depreciable property, then 100% of it qualifies for installment sale reporting (assuming you qualify as a farmer) and even though the sale was made in December, if you did not receive the cash until January--- for whatever reason--- then installment sale reporting would allow  the income to be recognized in January when cash is received.

Note that if you did in fact receive the cash in December, and just did not deposit it until January, then the income would be December income...…..when received.

Note also that for any property except for depreciation portion of depreciable property, then you can ELECT out of the installment reporting method, and report the income in December, even though the cash was received in January.  Again, see my post above.