Installment sales go on a form 6252 ... and the option for an installment sale is presented in the section where you entered the sale. https://www.irs.gov/pub/irs-pdf/p537.pdf
julieglenn1691
New Member
Jun 6, 2019 1:43:18 AM
Maybe I'm looking for the wrong form, I was carrying a contract on a home, the people up and walked out leaving the place unrepairable for me to do.. so I sold it at big loss just to be done with it
Critter
Level 15
Jun 6, 2019 1:43:19 AM
Were you only holding the mortgage on the home you repossessed ? Did you sell it before on an installment basis ? Sales for a loss do not go on an installment form. This is not an easy thing to enter in the program if you are not sure what you are doing ... this may be a good time to use a paid tax pro or upgrade to the LIVE help option.