How do I report an installment sale in TurboTax?
An installment sale is a sale of property where you receive at least one payment after the tax year of the sale. Here’s how to report one in TurboTax:
Navigate to the installment sales section:
TurboTax Online/Mobile: Go to the installment sales screen under Income in the Federal section.
TurboTax Desktop: Search for installment sales and select the Jump to link, or
Go to Federal Taxes.
Go to Wages & Income.
If asked, How do you want to enter your income?, select I'll choose what I work on.
Under Less Common Income, select Start or Update next to Installment Sales.
Check the box next to Sales of real estate, cars, or anything else for which you receive payments over two or more tax years (installment sales). Select Continue.
Answer Yes to Do you want to report an installment sale?
Follow the instructions to enter your sale details.
