Interesting,
this is the reply I got from MS copilot...
where does down payment best go on Form 6252?
When filling out Form 6252 for an installment sale, the down payment should be included in the contract price on line 5. This amount is part of the total sales price and will be used to calculate the gross profit and the installment sale income.
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Makes no mention of including the payment in line 21 (it isn't an installment payment, those occur after the sale, right?).
If anyone can find a sample case or text where it explicitly says add the down payment to line 21, I'd appreciate it!
