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jklpw
Returning Member

installment sale cannot enter sale detail

 
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4 Replies
DianeW777
Expert Alumni

installment sale cannot enter sale detail

Yes, you can prepare that form in TurboTax (Form 6252).  

 

If it is a sale of investment or personal property you can use the steps below to arrive at the location to complete the installment sale:

  1. Sign into your TurboTax return > Select Personal Income > Scroll to Less Common Income > Select Installment Sales (Start/Update)
  2. Continue to enter your sale and see the images below for assistance.

@jklpw 

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jklpw
Returning Member

installment sale cannot enter sale detail

at the installment sales summery page my date sold and description are filled in then click done and instead going to a page to fill in the interest and income received it goes back to the 2023 income summary page. it will not let me enter the sales details.

jklpw
Returning Member

installment sale cannot enter sale detail

the property description page does not come up.

PatriciaV
Expert Alumni

installment sale cannot enter sale detail

Be sure your selling price less selling expenses are more than your cost or basis. In other words, you had a gain on the sale. If you had a loss, TurboTax tells you that you have nothing to report.

 

If you are certain you had a gain on the sale, you may wish to delete the installment sale you entered and try again. From the Installment Sales Summary page, click Delete beside the sale you need to remove. Confirm the deletion. Then follow the steps outlined above by DianeW777 to re-enter the sale. You should see a final page showing how much gain is reported this year.

 

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