Thanks for replying. This sale has no depreciation. It is the sale of a business. This is how it is showing up on my TurboTax form 6252
Line 5 - Selling price - total value , Say $100,000
Line 16- Gross profit $90,000
Line 18 - Contract price - The same a sell price in this case $100,000
Line 19 profit % Turbotax says 1.0 even though it is really .90
Line A1 Install made $15,000
A2 Interest $5,000
Line 21 $15,000
Line 22 $105,000 ( it is adding gross profit and installment payment)
Line 24 $105,000
This problem is corrected if I answer differently in the TurboTax step by step questions. If I input the sale date of 12.31.2024 instead of 1.1.25 it gives my an installment payment of $15,000.
Help! What am I doing wrong? I really appreciate your help!
