Installment sale data entry

Current year

Follow these steps to enter asset details using the Asset tab.
  1. Go to the
    Asset
    tab. If you don't see the Asset tab:
    1. Select
      File
      , then
      Client Properties
      .
    2. Select the
      Advanced Properties
      tab.
    3. Mark
      Enter Asset Detail
      .
  2. Select the asset, then
    Modify
    .
  3. Select the
    Disposal
    tab.
  4. Select
    Sold / Scrapped
    in the
    Method
    field.
  5. Select
    Installment Sale
    .
  6. Fill out the fields on the
    Installment sale
    window. Use F1 on the window for details on the input fields.
If you don't want to enter asset details using the Asset tab, use the following screens.
  • Sale screen: There's a Sale screen in each activity, plus 1 in the Personal Sale folder for 1040 returns. Use F1 on the screen for details on the input fields.
  • 1040 only: Home screen, for a personal residence. This screen is in the Personal Sale folder.
  • 1040 only: K1Sale screen, for section 179 property separately reported on a Schedule K-1. This screen is in the K1 1065, 1120S folder.

Prior year

Use the InstPY screen for prior-year installment sales. There's an InstPY screen in each activity, plus 1 in the Personal Sale folder for 1040 returns.

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