Form 6252, Installment Sale Income is estimated to be completed sometime 2/25/2021. TurboTax has to wait for the IRS to finalize and give us approval to update our software.
When you sell something for more than you paid for it, you report the income on your taxes for the year in which the sale took place. Sometimes, though, the buyer spreads the payments out over more than one year. In that case, it’s what the Internal Revenue Service (IRS) refers to as an "installment sale.
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