IRS form 6252 reports an installment sale. The income is apportioned over two or more years of payment. Follow these directions:
- Down the left side of the screen, click on Federal.
- Down the left side of the screen, click on Wages & Income.
- Click to the right of Less Common Income.
- Click to the right of Installment sales.
- At the screen Installment sales, select Yes.
If the property was used as rental property or some business purpose, an installment sale question is among the questions in the sale of the business asset.
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