topic I sold a home using Seller Financing in Deductions & credits

I sold a home using Seller Financing

techie353 — Wed, 10 Dec 2025 01:27:05 GMT

The home is in Pennsylvania and I reside in New York. I sold the home to a Buyer and financed the loan. I was paid $15k down payment for Nov 2025. Each month in 2026, I will receive a monthly check (principal and interest).How do I report the $15k and also the monthly check?

Do I complete Form 6252 (Installment Sale Income) for Federal? And pay Quarterly Taxes?

I will be using TurboTax Deluxe if this helps.

Re: I sold a home using Seller Financing

M-MTax — Wed, 10 Dec 2025 15:24:55 GMT

Yes, it's an installment sale but if you're using the online version of TurboTax, you'll have to upgrade to Premier.

Re: I sold a home using Seller Financing

techie353 — Thu, 11 Dec 2025 18:12:16 GMT

I will be using TurboTax Deluxe Desktop edition. Can I make this work wit this version? Or perhaps use Excel spreadsheet for tracking? How can the Premier edition simplify for me?

Re: I sold a home using Seller Financing

VolvoGirl — Thu, 11 Dec 2025 18:46:33 GMT

Yes you can use Desktop Deluxe. All the Desktop programs have the same forms, you just get more help in the higher versions. I don't know what extra help or questions that Premier will ask.

ps.....in the Online version you would need Premium. They changed Premier to Premium in Online.