S Corp stock sale

[TaxGal]

Are there any forms that need to be filed to report the sale of S corp stock between shareholders? This is a closely held S corp with three shareholders and two of the shareholders are buying out the other for a total of $50,000. I know the corporate return will reflect the change for allocation purposes, but wasn't sure if there was more that was needed. Thanks for any help you can provide.

[dsi]

I think you are on track. As I recall, there are some questions on page 2/3 of the s-corp tax return that asks if there has been a change in shareholders.

[rosieea]

I think you are on track. As I recall, there are some questions on page 2/3 of the s-corp tax return that asks if there has been a change in shareholders.

I don't believe there are any such questions, and I am not aware of any requirement to report changes to the IRS.

[Matt Sova]

Sale of S-Corp stock

There is nothing on the tax return, other than marking the selling shareholder's K-1 final, that denotes a change in shareholders.

Matt

[dsi]

There is nothing on the tax return, other than marking the selling shareholder's K-1 final, that denotes a change in shareholders.

Matt

That must be what I remember. So be sure to read the questions carefully, and provide the requisite answers.