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    Client sold a property using installment sale. ProSeries Basic want to transfer line 15 to form 4797 which results in the entire sale being taxable this year. Why:

    gslayton
    Level 3
     
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    1 Best Answer

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    Just-Lisa-Now-
    Level 15
    Level 15

    Business property? Are you linking to the 6252 from an Asset Entry worksheet?

    Did you complete Part I of the 6252 and the payments and interest received in the Smart Worksheet?

    You may need to give us some details so we can follow along to see why things arent flowing properly.


    ♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪

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    3 Comments 3
    Just-Lisa-Now-
    Level 15
    Level 15

    Business property? Are you linking to the 6252 from an Asset Entry worksheet?

    Did you complete Part I of the 6252 and the payments and interest received in the Smart Worksheet?

    You may need to give us some details so we can follow along to see why things arent flowing properly.


    ♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪
    IRonMaN
    Level 15

    What type of property?  Are you sure you aren't just being subject to depreciation recapture?


    Slava Ukraini!
    gslayton
    Level 3

    Thank you. Thank you. Thank you.

    I forgot to link to the 6252.