Received our k-1 1120-s and form 6252 for our company we sold in December. The buyers gave us a lump sum payment of half and will be making monthly installments for 3 years for the balance. Box 17 has the normal V,AC,AJ and then this nasty "N" for the deferred payments that we have to add manually to "Other Taxes" as well. I have done further reading on the IRS website and am more confused than when I started. Hypothetically my share of the deferred obligation is $200K. What amounts do I enter for the N in the walk through as well as in the "Other Taxes" on Schedule 2? Thank you
