report rental property Installment sales on form 6252

Forum|Forum|5 years ago
May 12, 2021
1 reply
12 views

I have entered disposition on the asset quick entry ( it is seller financed, installment sales),

on the same asset quick entry screen, under section for form 6252, I have entered the Property Code (4 -instalmenet) and amount of principal received.

I also entered Sec 1250 unrecapture gain (had manually calculated ), but the unrecapture gain did not show on form 6252 line25. Is it right?

Anyone knows how to handle this?

ProConnect Tax

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Best answer by TaxGuyBill

@skyworks wrote:

I also entered Sec 1250 unrecapture gain (had manually calculated ), but the unrecapture gain did not show on form 6252 line25. Is it right?

Yes, that is right. Line 25 is for recapture of depreciation, not Unrecaptured Section 1250 Gain (look at Line 19 of Schedule D to make sure that the Unrecaptured is flowing correctly).

T

TaxGuyBillAnswer

Level 15

@skyworks wrote:

I also entered Sec 1250 unrecapture gain (had manually calculated ), but the unrecapture gain did not show on form 6252 line25. Is it right?

Yes, that is right. Line 25 is for recapture of depreciation, not Unrecaptured Section 1250 Gain (look at Line 19 of Schedule D to make sure that the Unrecaptured is flowing correctly).

S

skyworksAuthor

Level 5

Thanks, just saw your response

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