Why is turbo tax not reporting my capital gains fr...
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paulcharlesmanga
New Member

Why is turbo tax not reporting my capital gains from an installment sale as income?

 
3 Replies
MarilynG1
Employee Tax Expert

Why is turbo tax not reporting my capital gains from an installment sale as income?

The principal you receive each year is reported on Schedule D, and the interest is reported on Schedule B.

 

Once you have paid for your return (or are using the desktop version) you can see the calculations on Form 6252.

 

Click this link for more info on Reporting Installment Sale Income.

 

 

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mickeyphilli
Returning Member

Why is turbo tax not reporting my capital gains from an installment sale as income?

I am using the desktop windows version of TurboTax Home and Business 2020. The information on my form 6252 is not flowing through to the Schedule D.

 

In 2017 and 2018, TurboTax created both a form 6252 and a 4797. In 2019 it appears to have only created a 4797, which I did not realize until I was trying to figure out this year's return. I have checked the same check boxes in the same interview section through all of these years, so I don't understand why it is creating different forms in different years. However, I do know in all of these years, it reported the gain on line 11 of Schedule D.

 

TurboTax Home/Business 2020 windows desktop version is not creating the 4797, only the 6252 and the gain figure on 6252 is NOT flowing through to Schedule D, line 11b.

ReneeM7122
Employee Tax Expert

Why is turbo tax not reporting my capital gains from an installment sale as income?

Here is a TurboTax article about installment sale income, and an FAQ with instructions on how to enter an installment sale in TurboTax.

@mickeyphilli

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