Hi, I realized that some income in my S corp could classify as LT Cap Gain (its sect 1245 property). I'm hoping that will allow me to pull forward last years large cap loss to offset ord income this year. So the S corp K1 should adjust the $23K FROM distributions to box 8a (LT cap gain), correct? If so, who generates the Sch D - my 1040 or S corp's 1120S? Right now my K1 shows the amount both in box 16D as well as 8a.
Thanks so much!
