I am a real estate agent. I sold a home last year. I received a 1099 NEC from my Broker. I am trying to process my taxes on Turbo Tax and it keeps saying I have to complete form 6252 Installment Sale. I did not do an installment sale. How do I fix this?
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Most likely, you made a wrong selection in the program (inadvertently).
Go back through your return and check.
Did you sell a home that you owned, or did you make a sale on behalf of a client, in your role as an agent? Is the 1099-NEC for your commission? Form 6252 is for the sale of property that you owned. If you were the agent for the sale of a client's home, you do not report it as a sale. You report the 1099-NEC, your commission, as business (self-employment) income.
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