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?
This discussion has been locked.
No new contributions can be made. You may start a new discussion
It's an installment sale. Form 6252.
I've never seen one of these forms.
You have clicked a link to a site outside of the ProConnect Community. By clicking "Continue", you will leave the Community and be taken to that site instead.