Two person S Corp. One shareholder buys out the other on 8/1/24.  They are making the election to closeout the books as of 8/1/24.  There was a $ 40,000 loss at that point of time and by the end of the year there was a $ 15,000 profit.  The $ 40k loss was know and built into the buyout price.

One K-1 will have a loss and the other will have a profit.

Any tips on how to make proseries "flow" this entry?

Thanks