Incorrect error reported related to 6252

Forum|Forum|6 years ago
January 30, 2020
8 replies
40 views

I have finished entering all my income and deductions in Turbo Tax Premier 2019. I have an installment sale from 2005 that I still receive payments on, in 2019. I used Easy step throughout. This time, at the error check at the end TT complained that I had not entered any information for Lines 5 and 8 for Part I - when in fact, Part I is only filled out in the first year, in the year of sale - it even says that in the form. So Part I should be entirely blank for the 2019 tax year. I think this is a bug?

VictoriaD75

Level 12

In Part I, line 5 asks for Selling price including mortgages and other debts. Don't include interest, whether stated or unstated. Line 8 asks for Cost or other basis of property sold. Part I states Complete this part for all years of the installment agreement. You will want to update this information on the form as requested. I have attached a link to the form below, as well as a ling to the publication with instructions. However, please note that Publication 537 has not yet been updated by the IRS for tax year 2019.

Form 6252

Publication 537

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adm_archery

Level 3

Hello???

If you are an employee of TurboTax, then you need to have a priority placed on fixing this problem sooner rather than later!

TNTAX

Level 2

Unfortunately, there are no time-frames for any updates to installment sales originating in a prior year. The form 6252 does require deleting the form and re-entering the installment sale numbers in part one.

You can delete a form by following these steps:

1. Sign into your account and select your current return

2. Select Tax Tools on the bottom left and then Tools (see attached tax tools)

3. Select Delete a Form

4. Find the form and select delete next to it

Has this TT error related to Form 6252 been corrected? I, too, am still having the problem. It seems it should be fixed by TT since I am paying for the product to be correct. I can certainly do the work-around, but that should not be the solution since this will be an issue going forward for others.