installment sale

4 replies
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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

Alumni - Intuit

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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