Line 19, the gross profit percentage is using the wrong calculation. On my return it shows 100% profit when it should be 89%. I compared it to an installment sale in 2017 and the IRS form has changed since then but the Turbotax calculation didn't change.
The big problem is the form is treating the entire gain as reportable in 2025. Turbotax in Line 22 has me add line 20 +21 (contract price + installment payment).
Line 20 ( the gross profit) is being entered, which is recognizing the full gain.
This is the first year of the sale so the line 20 says " If this is the year of the sale, enter the amount from line 17. Otherwise, enter 0" . I think I need to enter 0 to have it calculate correctly. I could really use some help!
