Anyone know how to get rid of a critical diagnostic for a prior year installment sale on form 6252 when we don't have the original form 6252?

Forum|Forum|5 years ago
August 26, 2020
1 reply
15 views

this is for a fiduciary

Lacerte Tax

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George4Tacks

Level 15

Make it work. You (or your client) must have some idea of the original sales price. Make your best educated guess. Ideally you request a copy of the original return from IRS to confirm.

Answers are easy. Questions are hard!

K

Kathleen1Author

Level 5

There is no way to "make it work". The installment sale was inherited so the current client is not the one who sold the property. There was ordinary income recapture, depreciation and would have been selling expenses. We have bits of information, but not enough to back into what would have been on the original 6252.

George4Tacks

Level 15

There are ways to "make it work", be creative or do the work to get a an actual transcript or copy of the original return. https://proconnect.intuit.com/community/lacerte-tax-discussions/discussion/6252-prior-year-info/00/93804

Answers are easy. Questions are hard!

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