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mg48
New Member

Sale of Sub s stock as installment

I was the sole owner of a Sub s corp business which I sold in 2018.  I sold this as on a 10 year installment and received first payment in 2019.  How can this be entered on TT as an installment sale?  It isn't a QSBS and it isn't traded.  I owned all the stock and my buyer now owns all the stock.  Thanks, MG48

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2 Replies
DavidD66
Expert Alumni

Sale of Sub s stock as installment

To record an Installment sale in TurboTax Online:

  • Click on "Search" and type "Installment Sales" in the window and hit Enter
  • Click on "Jump to Installment Sales"
  • On the page "Any Other Property Sales" check the box for: "Sales of real estate, cars, or anything else for which you receive payments over two or more tax years (installment sales)" and click Continue
  • If you are using Deluxe you will be prompted to upgrade to Premier
  • On the Installment Sales page answer yes to "Do you want to report an installment sale?"
  • Continue through the interview and record the details of your Installment Sale
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mg48
New Member

Sale of Sub s stock as installment

Thank you.  I did that, however then I was required to complete the capital gains worksheet when the review was done.  This recorded the basis, sales price, etc. in total.  That showed a capital gain for the entire sales price of the business stock.  How can I enter it so that it reflects the installment vs the total sale?  This will be repeating for 10 years.

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