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M
MAZ
Level 1
January 28, 2021
Question

How to report 1099-CAP line 2 aggregate amount received

  • January 28, 2021
  • 2 replies
  • 26 views

My client sold stock of his S Corporation for $500K in 2020 and Form 1099-CAP line 2 shows $500K, but actually only received $200K in 2020.  Which amount and where do I report it on the 1040 tax return?

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2 replies

sjrcpa
sjrcpa
Level 15
January 28, 2021

It's an installment sale. Form 6252.

The more I know the more I don’t know.
sjrcpa
sjrcpa
Level 15
January 28, 2021

I've never seen one of these forms. 

The more I know the more I don’t know.
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