Shortt5
Level 2
06-21-2024
01:03 PM
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
How do I input a sale of qualified small business stock as an installment on Pro Series. I have created the sale of the stock on the 1099-B worksheet and check the box Gain from this is Qualified Small Business excludable under Section 1202 code Q. (eligible for 50% exclusion). I do not see how I can tie this sale to an installment agreement. What is the proper way to report?
Labels
Level 15
06-22-2024
12:36 PM
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
Use Form 6252, Installment Sale Income to report an installment sale in the year the sale occurs and for each year of the installment obligation. You also use the 1099B worksheet only for the gain you receive each year.
Denver1
Level 2
06-24-2024
06:23 PM
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
Qualified small business stock and Section 1202 exclusion in ProConnect Tax
by ProConnect Tax Online•Updated 3 months ago
Hope this helps