Installment Sale of a Rental Property
Where does one best enter the data related to the installment sale of a rental property? For the rental property, disposition is entered in the Depreciation screen, Disposition tab. This gives the depreciation expense for the property for the year sold (up to the sale date, though I find that it miscalculates). Farther down in that screen is a section for installment sales, but it seems incomplete. Should I leave this area blank and put all the installment sales data into the Dispositions / Schedule D entry screen? Will a disposition entered here interfere with the disposition shown in the Depreciation section, in the tab for the property sold? Overall advice on this would be appreciated.
If the installment data are to be entered in Dispositions / Schedule D, it would appear that there is no ability for the software to take data to calculate the years the proceeds will be received. So, is this is all to be manual calculation and then entry year-by-year here?
