Linking form 6252 to 1120-S form k11

[RANDYBLANK]

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.

[TaxGuyBill · Accepted solution]

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.

[RANDYBLANK]

Tax guy Bill, yes you are right. The k1 already reports the shareholders share of n the installment sale. I got confused bc the k1. In box 17 code N details all the shareholder’s portion of the instalment sale and I mistakenly assumed, this is my first sub s installment sale experience, that meant the shareholder was required to repot his share of the sale on his own 6252. Now I realize the line 17 code  N info is for reporting code section 453A(c), not for retrofitting the 6252 info. Thanks for your input.