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April 15, 2025
Question

Installment sale information Form 6252 absent in Final 2024 Tax Return

  • April 15, 2025
  • 1 reply
  • 0 views

I have reported installment sales of an inherited property in my 2024 Turbotax return for which the gain will be realized in 2025.  In the "Forms" view in Turbotax, it shows Form 6252 with the proper details.    But the final return does not have this form.  How come?  Is this a bug?

 

Thank you.

    1 reply

    April 15, 2025

    Is the gain reported on line 11 of IRS Schedule D Capital Gains and Losses?  Or is the gain not reported at all?

     

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    April 15, 2025

    It's not reported on Schedule D at all.

     

    The gain is not materially available to me until mid 2025.    So, this is reported on Form 6252 - which shows up in the Turbotax data (2024 Windows 10 desktop version software), but even this data does not flow to Schedule D.   When I print the full tax return with all the forms and calculations, Form 6252 and 6251 are not printed,  neither are CA 540 Forms 3805E.   But these forms do show up in the tax data.

     

    By IRS rules, as per https://turbotax.intuit.com/tax-tips/investments-and-taxes/what-is-irs-form-6252-installment-sale-income/L3R2EHSQU , I am required to report this sale in 2024 on Form 6252 even if I have not received the payment.

     

    Please help and advise if you have knowledge of any bug in 2024 Turbotax software for Window10 Desktop.

     

    Thank you.

    S

    April 16, 2025

    What do you have for the date of sale?  If the sale date is not in 2024, it will not be reported in 2024. @semicurious