Sorry I was mixed up. Using Turbo Desktop.
More information. Corporation sold Dec 31 2022. The value of the sales is the be paid to owner over 3 years. So first payments started in 2023 with monthly payments. Final payment to be made in 2025
On schedule 3 Do I record the full value of the sale or just the 2023 payment
Second : No matter what amount I am entering on Schedule 3 line 1 the forms are taking 50% of that and calculating a capital gain on line 19900 of half the value.
I thought the lifetime Capital Gains exemption would eliminate the 505 and hence no tax payable on the sale.
Appreciate any help
