qbteachmt
Level 15
03-02-2022
10:56 AM
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"is because she wanted the husband to be responsible for taxes on the proceeds not her"
Just to clarify, though: "The corporation sold the asset"
That means it is reported on the 1120S and passed down to her.
Your issue is Banking, not Taxes. Instead of her paying him, she had him paid directly. That doesn't change what happened.
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Don't yell at us; we're volunteers