How do I report an installment sale from one s-corp to another? How do principal payments get calculated, how do you report them on the s-corp tax return (what forms must be filed) and what carries to the K-1 (and on what lines does the k-1 data carry to the personal tax return?
I have created a guide that walks you through how to complete Form 1120S for an S Corp. If you still have questions or need assistance I recommend that you contact a tax preparer that can assist you with completing this form. We have a national bookkeeper directory that includes bookkeeping and tax firms, I’ve included the links to the guide and the directory below:
Crystalynn Shelton, CPA