Please help me understand what i need to do in this situation. my client is 100% owner of S-corp in PA. effective 1-1-18 he transferred 49% of the company to his son for $10. prior to the transfer, the company has been valued at $3M. where and how do i report such transaction?

they have all corporate paperwork on file. i am working on their 1120S. i understand i will have 2 Sch K-1's listed with respective percentages. but is there anything else i need to report?