S corp purchase

[baldeagletransporting]

I purchased S corp and have all the sales document. When I file S corp return, do I need to give anything to previous owner for him to report the sales of his S corp?

[Mike9241]

If you bought the stock - there's nothing to be issued or even reported regarding your purchase in your 1040/1120S returns.  If you bought the assets with or without assuming the liabilities there's a form  8594 that must be included with the 1120S to show the allocation for amounts paid for the various asset, etc. The IRS will compare this to the one the seller also must include in their S-Corp return.  if they don't agree both parties may expect an audit. 

https://www.irs.gov/forms-pubs/about-form-8594 

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In Turbotax for your 1040 you may want or need to prepare form  7203 which will track your tax basis.

[Rick19744]

As far as providing the former owner(s) with "anything", this depends on when the transaction occurred.

The former owner(s) may need to be provided with a final K-1.

I would recommend you consult with a tax professional to handle the final year return and possibly the initial year return for the new owner(s).