I have a S-crop set up in 2010. I purchase a gas station in 2020 with a new DBA under my previous S-corp. The purchase price was $300K (cash) of which $100K of this amount was for inventory. I lease a gas station so not land or building involved.
My first question is where can I report for the rest of $200K ($300K-$100K) on 1120S form?
Second, am I required to file 8594 Asset Acquisition Statement?
Third, for 2020, it has net loss of $30K. Also, I have net loss of $20K during 2021. I am planning to sell the gas station in May 2021. In 2020 balance sheet how to put $300K under Stockholder's equity section for the best tax benefit for 2020 and 2021? I am not sure whether I put $300K either "Loan from Shareholder", or "Capital contribution", or breakout between two?
