Installment sale of S Corp interest
SCorp shareholder will sell interest in SCorp to other shareholders, but be paid over 5 years. If this S/H receives a note for the unpaid amount, does the entire sale go on Sch D?
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11/06/09 7:07am PST
Viewed by asker 11/24/09 9:24am PST
Viewed by asker 11/24/09 9:24am PST
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sjrcpa
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11/06/09 7:39am PST
The sale gets reported on Form 6252 Installment Sale Income, as will subsequent years note collections. The amount that is taxable each year will then flow to the Schedule D.
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Mt Juliet CPA
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11/06/09 8:31am PST
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The solution
The installment sale get reported on Form 6252 for Installment Sales and each years data will be recorded on Form 6252 which will then flow to Schedule D which will reflect the taxable Gains
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