I have entered a prior year installment loan as a disposition. This appears on Form 6252, I believe the amount on line 26 should flow over to Form 4797 Part II line 10, but it is not. Is there something I am missing?
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In the little titles across the top is Sale of Asset 4797, ... The first entry has Depreciation allowed (-1=none, triggers 4797) Did you make an entry there?
The ordinary income part should have all been reported in the year of sale.
It is an installment loan so income is received each year
I appreciate your response, I did try this, but it did not bring the balance over to the row I was trying to get the amount to
"It is an installment loan so income is received each year"
I know that, but the ordinary income part of the sale was fully taxable in the year of sale.
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