PatriciaV
Employee Tax Expert

Get your taxes done using TurboTax

Since you have another downpayment for a different asset, you may report this as a separate installment sale. Adjust the length of the repayment period if needed.

Enter this transaction under Sale of Business Property, which is found under the Income topic.

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"