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Sale of S Corp Stock: Taxpayer sells S Corp stock to other…

Sale of S Corp Stock...
Sale of S Corp Stock: Taxpayer sells S Corp stock to other shareholders for no gain / no loss. Payments (no interest) structured over several years. Schedule D in year of sale? Or, no Schedule D (no gain / no loss). Form 6252 would only come into play if installment sale w/ gain. Please confirm. I'm overthinking this. Year of sale and first payments was 2016. New client. I don't want to amend. (I am still in the process of confirming no gain.) Thanks in advance.
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Answered in 6 hours by:
3/15/2018
Carter McBride
Carter McBride, Certified Public Accountant (CPA)
Category: Tax
Satisfied Customers: 1,313
Experience: Adjunct Professor
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Hey! I'm Carter, I'm a CPA and can help.

You're overthinking this. No installment method unless there is a gain. So, just schedule D in year of sale to report the stock sale and stock basis.

Let me know if you need anything else. If not, please leave a rating. Thanks!

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Customer reply replied 5 months ago
Good. If no gain, and year of sale was 2016, would you recommend amending?

If the did not do a Schedule D? No, unless they received a 1099-B reporting the sale. If they did, I would amend to avoid a matching notice.

Carter McBride
Carter McBride, Certified Public Accountant (CPA)
Category: Tax
Satisfied Customers: 1,313
Experience: Adjunct Professor
Verified
Carter McBride and 87 other Tax Specialists are ready to help you
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Customer reply replied 5 months ago
Thanks, Carter.
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