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- How do I record buyout of a 50% S-corp SH to the remaining 50% SH?
How do I record buyout of a 50% S-corp SH to the remaining 50% SH?
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DawnDay7
Level 1
03-07-2024
02:06 PM
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I made entries on Ownership Percentage Worksheet. What other forms are needed on 1120-S? The remaining 50% shareholder used personal funds to pay departing 50% shareholder 100K. The departing shareholder had stock basis of 10K and debt basis of 20K.
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