jlew1229
Level 3
08-20-2020
12:36 PM
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I believe you can set up an installment plan for the Sale of a closely held S-corp. Client sold their S-corp via installment sale, the note was transferred to each shareholder individually. The K-1 arrived with the entire gain from the sale in box 8 of the K-1. Client is receiving proceeds over the next 5 years. I was hoping to fill out the form 6252 for this gain. Does anyone know how to create an installment sale on the individual return using the K-1 information. Do I need to contact the accountant that did the K-1 for additional information?