Yes, it is showing up on my 2019 tax return. I sold a condo in 2007???
How do I get rid of this form for 2019?
Thanks,
Rita
You need to answer "No" to the question as to whether you received payment in more than one tax year.
I have a question concerning errors that I am getting on form 6252.
I sold a rental property in 2006 and, over the years, I have been receiving installment payments.
This year TT is giving me errors on form 6252, column 5 looking for "Selling price including mortgages and other debts...." and column 8 looking for "Cost or other basis of property sold."
I have looked for these amount in 2018 TT returns and these fields are blank.
Part I - Gross profit and contract price, for 2019, it asks to "Complete this part for all years of the installment agreement" while the previous years it asked "complete this part for the year of sale only".
Please advise. I don't know where I can get that info.
Thank you!!!
@AnnetteB6, please see this reply on another post to basically the same question. That reply includes screen shots of this year's Form 6252 and last year's Form 6252 in which the instructions for what is required to be filled out on the form have changed.
Given that, would you mind explaining why you say that we "should be able to only enter the gross profit percentage"?
It used to be that you only needed to enter the gross profit calculation in the year of the sale. But that changed so now you have to enter it every year. You would have to go back to the year of sale and look on that return to find the original selling price and cost of sale.