Form 6252

[lickers1]

In my federal forms view it indicates that Form 6252 is not done. When I go to view the form, Part 1 has pink highlighted lines,i.e., Selling Price line 5 and cost basis line 8. In prior years this Part 1 was only required to be completed in the year of sale. Subsequent years of the installment sale this part did not need to be competed. The 2018 Form in Part 1 stated "Complete this part for the year of sale only". However the 2019 form states that it must be completed each year??

So, how can I get the form to be completed as part of the step by step tax return input process. I shouldn't have to override the form and type in the information requested. It should be populated from the step by step input process!!

This form was released by the IRS on 1/27/20 maybe turbo tax hasn't been updated with this new version of form. If so why not?

[ThomasM125]

You are correct, you do need to add that information in 2019 even though the sale was from a prior year. 

I put an entry in to see how it is handled and It populated as required on form 6252. I suggest you go back through the installment income section and review the entry there to make sure everything is stated properly.

You may have to delete the entry and re-enter it as a last resort.

[Kevin46]

@ThomasM125, please see post "Errors on form 6252" and in particular this reply.  That reply includes screen shots of the form where the instructions clearly state that this information is now required, compared to previous years, which there is also a screen shot of.

So how can you say that for 2019, we don't need to enter the information?

[ThomasM125]

@Kevin46, maybe I wasn't clear, as per my quote, I said you do need to enter the sale information in each year of the installment - "you do need to add that information in 2019 even though the sale was from a prior year. " Sorry for the misunderstanding!