Pour milk into inner pot of Instant Pot. Push yogurt button then adjust until the screen reads "boil." This will take about an hour.
Once the Instant Pot beebs that the boil cycle is complete, carefully remove the lid and test the temperature. It should be around 180 degrees. Let inner pot sit in instant pot for 5 minutes and then remove inner pot.
Allow the milk to cool to 105-115 degrees. This will take an hour on the countertop or about 15 minutes if you place your inner pot into an ice bath.
Gently skim off the "skin" on the yogurt and discard.
Whisk in the prepared yogurt.
Place inner pot (be sure to dry off well if you had in ice bath),put lid on and press yogurt button again and then adjust until screen reads 8:00.
Once yogurt beeps that it is complete, store in glass jars or a large plastic container in the fridge.
This is a great time to freeze some yogurt for future yogurt making.