Hello, I working on the tax return for my LLC that sold a rental real estate property in 2023. partial payment was received in 2023, with the balance scheduled over the next several years. How do I enter this as an installment sale in TT business 2023?
Specifically: in the "FEDERAL TAXES" -> "RENTAL REAL ESTATE" section, I selected to edit the asset that was "Disposed" -> selected "sold". TT Business says "we'll ask if the transaction was an installment sale later", however I click and progress through all the questions/menus and the option for Installment sale never shows up. In previous yrs the option existed, but not in version 2023.
I'll note that the TT website does indicate form 6252 is now available and I have downloaded the latest update, however am still having this issue.
I have seen posts from previous years indicating the "search" button could be clicked, then enter "installment" and the option to "jump to installment sale" is visible. I am not able to do this in TT business 2023... maybe I am missing something.
Any suggestions appreciated. Thank you.
