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- Linking form 6252 to 1120-S form k11
Linking form 6252 to 1120-S form k11
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RANDYBLANK
Level 3
yesterday
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I'm trying to report an installment sale that a sub s corp has. The amount of gain is reported on the shareholder's K-1 and on form 6252. Even when I link the 6252 to the K-1 both the gain from the K-1 and the gain from the 6252 get transferred to schedule D and is included twice on form 1040. The only way I can get the results I'm looking for is to omit entering the gain amount on the 1040 K-1 form. What am I doing wrong. Thanks in advance for any input.
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TaxGuyBill
Level 15
10 hours ago
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Are you saying you are adding a 6252 to the 1040? Why?
Maybe I'm missing or forgetting something, but isn't the 6252 already on the 1120-S, which is why the proper gain is already on the K-1? A 6252 wouldn't be on the 1040 unless the Individual person made the Installment Sale.
