1464940 Posted October 7, 2020 Report Share Posted October 7, 2020 An S corp on an accrual basis sold all its assets and filed the final 1120S in 2019 with an installment notes. Can the sole shareholder use installment method for his individual income tax return? If so, besides filing Form 6252, do you make the adjustments on Sch D since gains on the accrual basis K-1 flows to Sch D? Thanks. Quote Link to comment Share on other sites More sharing options...
jklcpa Posted October 7, 2020 Report Share Posted October 7, 2020 This article has a discussion of S corp sales on the installment basis, and handling of the note in distribution depending on whether the S corp had, or didn't have, a plan of liquidation at sale. https://www.thetaxadviser.com/issues/2014/sep/tax-clinic-06.html 1 1 Quote Link to comment Share on other sites More sharing options...
Corduroy Frog Posted October 8, 2020 Report Share Posted October 8, 2020 I would also believe there would be a reporting difference based on whether the SCorp sold its assets, or whether the SCorp ownership stock were sold. Quote Link to comment Share on other sites More sharing options...
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