RANDYBLANK
Level 3

I'm trying to report an installment sale that a sub s corp has.  The amount of gain is reported on the shareholder's K-1 and on form 6252.  Even when I link the 6252 to the K-1 both the gain from the K-1 and the gain from the 6252 get transferred to schedule D and is included twice on form 1040.  The only way I can get the results I'm looking for is to omit entering the gain amount on the 1040 K-1 form.  What am I doing wrong.  Thanks in advance for any input.

0 Cheers
TaxGuyBill
Level 15

Are you saying you are adding a 6252 to the 1040?  Why?

Maybe I'm missing or forgetting something, but isn't the 6252 already on the 1120-S, which is why the proper gain is already on the K-1?  A 6252 wouldn't be on the 1040 unless the Individual person made the Installment Sale.