Use the following steps to enter your Installment Sale Information:
In TurboTax Desktop or Online, you can jump to the Installment Sales Section by opening your return then entering “Installment Sales” in the TurboTax search box. Click the Jump to installment sales link. This will take you directly to the screen where you will select that you had an installment sale.
Or you can find the Installment Sales section in TurboTax under the “Federal Taxes” > “Wages & Income” > “Less Common Business Situations” > “Installment Sales.”
If the installment sale information was not transferred from last year, you'll need to know the specifics of the sale, including how much was left to be paid. Then report the final payment. Be sure to follow the prompts until you are back on the income summary page to save your work.
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