How do I generate form 6252 to report an installment sale on a business return? (Have Turbotax Business, form does not appear?) tks. jj.

[IreneS · Accepted solution]

To include Form 6252 for an installment sale in TurboTax Busness please follow these steps:

1. While in your return, click Federal Taxes > Income
2. On the Use of Your Business Asset screen, mark the Yes radio button to answer Did you dispose of any assets in 20XX? Click Continue
3. On the Select Disposed Asset screen, click the Select box next to the asset sold.
4. Continue to the screen, Determine Installment Sale Qualification, click the Yes box.
5. Continue through the screens, entering the requested information on the installment sale.
6. TurboTax will create Form 6252 with your return.

[Edited | 4/15/2020 | 7:45am PDT]

[azwa]

My assets in TT are all related.  They include the original purchase price of a rental property, and all the improvements in subsequent years. In 2019 I sold the property on an installment basis. The instructions in this thread work for all of the "Improvement" entries but not for the original purchase.  It is the only one that includes Land, and it is the oldest, but I cannot see any other difference.

"4. Continue to the screen, Determine Installment Sale Qualification, click the Yes box." never appears for the original asset.  TT goes ahead and gives me a summary of how it calculates the gain.  All my other assets follow the pattern identified.

How do I get TurboTax to recognize it?

[vpcohen1955]

I will need to have form 6252 installment payments for capital gains for 2019 tax year.

Which Turbo tax do I need to purchase in order to obtain this form? Thank you!

[Carl]

@azwa and  @vpcohen1955 both of you are what's referred to as "add-ons" in a thread that neither of you created. @IreneS answered the original question posted by @jjohnson . For the two of you, your situations can not be assumed to be "exactly" the same as the original poster. This is why "add on" questions usually get no response since the entire thread is already marked as "answered".

Please start your own individual posts to increase the likelihood of getting a useful response to your questions. Thanks.

[DawnC]

To ask a new question and start a new thread - use this link

@azwa    @vpcohen1955  

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