Home purchase 100% for bus. Never lived there.Showed sale of bus prop gain flowed to her K-1. Deed her name. Could she show sale of pers. residence with no gain?.

Forum|Forum|6 years ago
December 7, 2019
8 replies
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S corp. Rooms all used for dress making and client appointments. bought in 2000 sold in 2017.

Lacerte Tax

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Best answer by TaxMonkey

Its unclear what you are trying to accomplish. You stated the s-corp reported the sale and the gain flowed to her on the K-1. Why do you want to report the sale again on her personal return? Did she received a 1099-S?

T

TaxMonkeyAnswer

Level 7

Its unclear what you are trying to accomplish. You stated the s-corp reported the sale and the gain flowed to her on the K-1. Why do you want to report the sale again on her personal return? Did she received a 1099-S?