MAZ
Level 1
01-27-2021
06:51 PM
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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?
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sjrcpa
Level 15
01-27-2021
07:57 PM
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It's an installment sale. Form 6252.
Ex-AllStar
sjrcpa
Level 15
01-27-2021
07:59 PM
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I've never seen one of these forms.
Ex-AllStar