turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

jms55
New Member

TT business. LLC. sch 1065 report installment sale of rental property could you point me to the proper instructions

i can not find the instruction for entering an installment sale BY an LLC

x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

1 Best answer

Accepted Solutions
DDollar
Expert Alumni

TT business. LLC. sch 1065 report installment sale of rental property could you point me to the proper instructions

To report an Installment Sale in TurboTax Business (Form 1065), while in your return:

  • Type "installment" in the search window
  • Click on "Jump to installment sale"
  • On the following page answer Yes to "Did you dispose of any assets in 2016?" Click Continue
  • Enter the details of your asset sale
  • The next page will be "Determine Installment Sale Qualification"  Answer Yes if the business received payments for this asset over two or more tax years.
  • The following page will tell you if the Sale qualifies as an Installment Sale.

View solution in original post

1 Reply
DDollar
Expert Alumni

TT business. LLC. sch 1065 report installment sale of rental property could you point me to the proper instructions

To report an Installment Sale in TurboTax Business (Form 1065), while in your return:

  • Type "installment" in the search window
  • Click on "Jump to installment sale"
  • On the following page answer Yes to "Did you dispose of any assets in 2016?" Click Continue
  • Enter the details of your asset sale
  • The next page will be "Determine Installment Sale Qualification"  Answer Yes if the business received payments for this asset over two or more tax years.
  • The following page will tell you if the Sale qualifies as an Installment Sale.
message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question
Manage cookies