Hello, I am having the same problem after entering information of my home sale it loops back to the question "INSTALLEMENT SALE SELLING PRICE". I am using Turbo tax home an Business. I received a 1099-s and only had the home for approximately 1 year. It is not an installment sale and I am reporting this information under; Personal Income; Less common Income ; sale of home.
Here are my answers:
Sale Price; $221,000
Sale Expenses: 32,706
date acquired: 12/23/24
Home Purchase info: Yes I will enter
Home Purchase price: $212,823
Next screen indicates No exclusion
Debt assumed: 0
installment sale selling price (will the total selling price be determined by the end of the year? I entered Yes...
Principle and Interest received: (Payment received in 2025) I entered my Payoff amount: $188,294
Received mortgage payment: No
Depreciation on installment sale: 0
related party sale: no
Debt assumed: 0
This is where it loops back to "INSTALLMENT SALE SELLING PRICE"
I'm not under installment sale so I'm not sure where I went wrong.
can you give me any insight what I need to do?
Thank you in advance!
