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Yes, you can report only your 2024 payment if you choose the installment sale method. The other option is to report the full sale and then if you receive additional income in a later year you would report it the same way.    If you want to use the installment method you can follow the steps in this link. Keep in mind that any interest payments in the contract would also be taxable income. How do I report an installment sale in TurboTax? What is an installment sale?

Thanks for your response @Vanessa A . Regarding your point "... and do not live in a state that does tax IHSS payments. " We are California residents where IHSS payments are being made. So, the above doesn't appear to apply. Do you have a different recommendation? The payments and W2 were received for the two parents who live with us -  EIN is same but employer name is different. And the numbers in boxes 3-6 are different for each. Box 12 is marked with code "II" and the Box3 amount is same as Box 12. Additionally, Box 14 has CA-SDI payments as well. I saw some recommendations to combine the Box 14 values and enter a single W-2. However, it's unclear if that can be done for Boxes 3-6 as well.

I agree.  I had many difficulties with their software this year.  When I reached out for support, they prompted me to sign up for the premium version with tax support. I don’t need tax support, I needed “software” support. Their software had a mysterious $1050 ‘other income’ which prevented me from using the free simple version.  We have two W2’s and a $56 1099 INT.  Standard deductions and the child tax credit.  But their software would not allow me to preview what items constituted my Total Income. So I went with another software this year! 

It depends on whether or not you have other income to report, your age, and your filing status.  Take a look at the following TurboTax help article to learn more about the filing requirements for 2024:   Do I need to file a federal return this year?  

Try contacting Credit Karma   CREDIT KARMA CARD   https://ttlc.intuit.com/community/intuit-account/help/is-credit-karma-a-part-of-turbotax/00/2092900     https://support.creditkarma.com/s/  

When you go into the Inventory/Cost of Goods Sold section of TurboTax, you will see an opportunity to enter your beginning inventory on the screen that says Let's get the value of your inventory:     Also, if you overstated the value of your ending inventory on the previous year's tax return, that would have artificially decreased your cost of good sold for that year, so you may have overstated your income. If so, you can amend your previous year tax return to account for that.

…because I use CreditKarma to track my finances? I just want to use the app without seeing this notification every time. There should be an “X” button so I can dismiss the message. Why is this not an option already?

Please review the instructions in the links below.   If you want to make changes or add a document to a tax return that has already been filed and accepted by the taxing agency, you should follow these guidelines.    You must first wait until the initial return is completely processed. You will have to use the same TurboTax account that you used for the original tax return. Once you begin your amendment, you'll see your original return. The refund calculator will start new at $0 and only reflect the changes in the refund or tax due Only make changes to the areas of your return that need to be corrected. You have three years from the date you filed your return or two years after you paid the tax due (whichever is later) to file an amendment Select your product below and follow the instructions.  Amend TurboTax Online  Amend TurboTax CD/Download 

@Shaquale Robinson  TurboTax stopped using those TurboTax Visas several years ago.   If your card expired, you should try to open an account with some other credit or debit card or open an actual bank account at a brick and mortar bank in your area.  TT now uses Credit Karma--not sure I would suggest that as ideal.   

If you want to make changes or add a document to a tax return that has already been filed and accepted by the taxing agency, you should follow these guidelines.    You must first wait until the initial return is completely processed. You will have to use the same TurboTax account that you used for the original tax return. Once you begin your amendment, you'll see your original return. The refund calculator will start new at $0 and only reflect the changes in the refund or tax due Only make changes to the areas of your return that need to be corrected. You have three years from the date you filed your return or two years after you paid the tax due (whichever is later) to file an amendment Select your product below and follow the instructions.  Amend TurboTax Online  Amend TurboTax CD/Download 

If the financial institution does not issue a 1099-INT until the CD reaches full maturity, and you declare interest accrued annually during the life of the CD, you would have no 1099-INT to reference when you file.  And the amount shown on the 1099-INT issued at maturity would not match the amount you declared in the final year,    What form do you use or how do you document the discrepancy?

It is easier than you might think to accidently indicate to TurboTax that you have an HSA ad need to report it on form 8889.   First, make sure that you do not have a code W in box 12 of your W-2. This shows that your employer contributed to youe non-existent HSA, and it triggered the HSA processing. Occasionally this happen when you autoimport your W-2, and garbage gets into the return. This is fixed by deleting your W-2 and re-entering it by hand. Note, however, that deleting your W-2 is an early step in the HSA RESET below.   If you indeed do not have an HSA and never have, then you need to delete all HSA data on your return. To do that, do an HSA RESET.   ***Reset***   1. make a copy of your W-2(s) (if you don't have the paper copies) 2. delete your W-2(s) (use the garbage can icon next to the W-2(s) on the Income screen)   *** Desktop*** 3. go to View (at the top), choose Forms, and select the desired form(s) - 1099-SA (if one), 8889-T, and 8889-S (if one). Note the Delete Form button at the bottom of the screen.   *** Online ***   3. go to Tax Tools (on the left), and navigate to Tools->Delete a form 4. delete form(s) 1099-SA (if one), 8889-T, and 8889-S (if one)   5. go back and re-add your W-2(s), preferably adding them manually 6. now continue with your return

TurboTax transfers data from your federal return to your state return. Before you begin troubleshooting your state return, go back through your federal return and make sure everything is correct.   After you review your federal return, select the State Taxes tab and review the state section. Pay close attention to the information, especially if you have made changes to your federal return. There might be new sections that need to be completed.  Troubleshooting common federal to state transfer issues   You can also try the following if your issue continues:   If you are using TurboTax Desktop, you will need to correct your return and/or update your program by following the onscreen instructions.   If you continue having issues you can check some of our common solutions.  If your tax return can't be e-filed for some reason, TurboTax will let you know.   If your issue continues, contact us again and give us more details.    

You have been very helpful.   One last questioin. I sold the book last April 2024  They gave me an initial payment then.  A second payment is to be paid April this year 2025 based on the current valuation so I'm not 100 % what the actual payment will be.   How do I enter the sale price ?   Just what they paid me in 2024 ?