Linking form 6252 to 1120-S form k11

Forum|Forum|10 months ago
September 6, 2025
1 reply
7 views

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.

ProSeries Professional

Best answer by TaxGuyBill

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.

T

TaxGuyBillAnswer

Level 15

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.

R

RANDYBLANKAuthor

Level 3

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.

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