How do I enter an installment sale of stock?

[mgio]

I have the same issues jwbdevil except for me the full value of the payout (including the escrow!) was included on my W-2.

[LisaBr · Accepted solution]

To record an Installment sale in TurboTax Online:

• Click on "Search" and type "Installment Sales" in the window and hit Enter
• Click on "Jump to Installment Sales"
• On the page "Any Other Property Sales" check the box for: "Sales of real estate, cars, or anything else for which you receive payments over two or more tax years (installment sales)" and click Continue
  
• If you are using Deluxe you will be prompted to upgrade to Premier
• On the Installment Sales page answer yes to "Do you want to report an installment sale?"
• Continue through the interview and record the details of your Installment Sale

This is how Form 6252  for Installment Sales is reported in TurboTax

[KurtEdJohn]

This does not work.  It only lets me proceed if I say the stock was a "Qualified Small Business"  Help!!

[TomYoung]

Although TurboTax officially told me that the you could not report non-public, non-QSBS on the installment method, I believe you can, though you have to lie to TurboTax about selling "stock".  I'm away from home so wait a couple of days and I'll post how I get the installment method to work for your situation.

[TomYoung]

dup

[jwbdevil]

Great insights

[LisaBr]

Since you did not receive the amount of income reported on your 1099-B in 2017, you may need to have your company issue you a corrected 1099-B for the actual amount of income received for this installment sale. 

According to IRS publication 537, Page 2, You cannot use the Installment method to report gain on the sale of stocks and securities traded on an established securities market.

https://www.irs.gov/pub/irs-pdf/p537.pdf

I understand the agreement with your company, however, the 1099-B is the record to the IRS of the actual amount of money you received in each year for the sale of the stock. 

[okrandy]

Thank you.  I will contact the controller.

[okrandy]

My controller said to enter the 1099-B as submitted and then handle the installment aspect of the transaction on form 6252.  Do you concur?  
Does TTax Premier handle this situation.  
By the way, this is not a publicly traded company.  We are an ESOP. Senior staff such as myself also own stock outright.  This is a sale of the latter.

[okrandy]

Should I be treating this as an installment sale under Less Common Income?