turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

Second home sale 2023, personal use, seller financed. I entered F1099-S & completed the Installment Sales questions (F6252). TT seems to be calculating a capital gain as if I were paid all at once.

 
x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

2 Replies

Second home sale 2023, personal use, seller financed. I entered F1099-S & completed the Installment Sales questions (F6252). TT seems to be calculating a capital gain as if I were paid all at once.

You should be entering the amount of principal and interest you received.

 

Untitled.png

Second home sale 2023, personal use, seller financed. I entered F1099-S & completed the Installment Sales questions (F6252). TT seems to be calculating a capital gain as if I were paid all at once.

I had entered those correctly. Just checked. And I had checked the box about the buyer using house as their main residence.

 

When I entered the information from F1099-S, should I have entered the full sales proceeds, or just the amount I had received from the buyer at closing, the 20% down payment?

 
message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question
Manage cookies