TurboTax Home and Business 2022 does not handle Contingent Payment Installment Sales.
I sold private company stock in 2021 with an initial payment and a maximum earnout payment, dependent upon results, to be paid in 2022.
The first year's gross profit and capital gain on the initial payment assumed the max earnout.
It came in less.
Because I paid a larger expect gross profit in 2021, the gross profit on the small than expected earnout payment should be less.
TurboTax does not provide the adjusting worksheet shown in the IRS instructions.
Seems all I can do is override the capital gain, which will likely prevent online filing.
anyone have suggestions?
Thanks, GaryM
