installment sale

Forum|Forum|5 years ago
March 10, 2021
4 replies
23 views

i sold a rental property in 2020. Turbo tax is asking me to complete an installment sale form 6252 but it was not an installment sale. how do i correct this in turbo tax?

ColeenD3

Level 15

Go back to the Asset section. Again, indicate rental real estate. go through the screens until you get to the screen below. answer no.

vera wAuthor

Level 2

i went back and clicked 'no' for installment sale and when I go in the review section, Turbo tax has found 5 errors relating to form 6252, Installment Sales which they want me to correct/complete. If I do not correct these errors, will Turbo Tax allow me to file my return anyway?

MayaD

Alumni - Intuit

No, you need to clear the errors to be able to e-file.

You must file Form 6252 for any year in which you received payments on the installment sale:

In the year in which the sale actually occurred, fill out Lines 1 through 4 and Parts I and II
In any other year, fill out Lines 1 through 4 and Part II

If that doesn't apply to you delete form 6252:

1. Sign into your account.

2. Select Tax Tools on the bottom left and then Tools.

3. Select Delete a Form.

4. Find the form and select delete next to it.

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