When preparing to install SharePoint, ASP.NET v2.0.50727 must be set to a status of allowed in IIS Web Service Extensions. If this item is not in the list in IIS, navigate to:
C:\WINDOWS\Microsoft.NET\Framework64\v2.0.50727> for 64 bit
At the command prompt type: aspnet_regiis - i
Go back into IIS Manger and it will show in the list and you can set it to a status of Allowed.