Installment Sale from 2002

[Diane]

I have an installment sale that occurred in 2002. The form 6252 has all the info from that sale so that the taxable portion of this year's payments can be calculated. The date that I have entered for the purchase date of this property (commercial property) is 'Various' because of the original purchase date and the improvements over the years. Will this return NOT efile because of the term VARIOUS?

Diane

[ILLMAS]

I have an installment sale that occurred in 2002. The form 6252 has all the info from that sale so that the taxable portion of this year's payments can be calculated. The date that I have entered for the purchase date of this property (commercial property) is 'Various' because of the original purchase date and the improvements over the years. Will this return NOT efile because of the term VARIOUS?

Diane

Have you tried creating the efile? I know it's a problem for "date of purchase" for stocks, if you use various the system will not allow you to transmit it. It only allows you to use various on the sales date. Give it a try.

[Diane]

I tried to create the efile. Wouldn't work. It would create the state but not the Federal.

Diane

[kcjenkins]

Why not just enter the date of the original purchase, since the timing is not an issue anyway? Then it will efile just fine, and should it be looked at, will most certainly not generate any notices.

[grandmabee]

Have you tried creating the efile? I know it's a problem for "date of purchase" for stocks, if you use various the system will not allow you to transmit it. It only allows you to use various on the sales date. Give it a try.

I think you have that backwards. you can use various in the purchase dates for stock but not for sales dates

I have efiled many with various for purchase dates