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Rose10
Level 1
October 14, 2020
Question

Where do you input receipt of payment on installment note from prior year sale?

  • October 14, 2020
  • 1 reply
  • 25 views
Good will was sold in 2018 on installment.  How do you report receipt of payment in 2019?
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1 reply

JMP
JMP
Level 3
October 14, 2020

Sounds like you need to complete Part II of Form 6252. It's buried in one of the Schedule D screens. Here's an article on the subject: https://proconnect.intuit.com/community/individual/help/entering-a-prior-or-current-year-installment-sale-form-6252/00/3313

You'll need some information from the 2018 Form 6252. Also, I assume the payment didn't include any interest but if it did, the interest portion of the payment goes on Schedule B.

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