We sold our business in 2018 and received installment payments in 2018, but none on 2019 and the final pay off in 2020. I had posted this question to the expert and got the following response.
| Re: Sale of LLc in 2018 |
| |
This should be reported on the same form that should have been initially completed in 2018 and then in 2019. The installment sale form 6252. |
While I am sure this accurate, it doesn't really help me know how/where to report this income in my TurboTax Home and Business program. Can someone give me guidance on where this information is to be entered into the TurboTax Home and Business return?
Please and thank you.
Jerome
