topic Yes, that should work. in Get your taxes done using TurboTax

I sold S-corp stock and will receive the pay out over 5 years. Do I report only the amount paid this year or the whole amount of the transaction?

gpfrank — Sat, 01 Jun 2019 00:30:04 GMT

I take it that the stock is not publicly traded and I ass...

TomYoung — Sat, 01 Jun 2019 00:30:05 GMT

I take it that the stock is not publicly traded and I assume that you have a gain on sale.

If so, you can use the installment method for reporting the sale.

https://www.irs.gov/taxtopics/tc705.html

I'm not sure if all versions of TurboTax online support installment sales or not, but all desktop versions do.

Tom Young

Not publicly traded, and a gain. Installment Sales secti...

gpfrank — Sat, 01 Jun 2019 00:30:06 GMT

Not publicly traded, and a gain. Installment Sales section tells me this transaction doesn't qualify and to enter under normal stock sale section. I answered the question of "Was this item used in a business" as "NO". Should I say that this was used in a business since it it the stock in that business?

Yes, that should work.

TomYoung — Sat, 01 Jun 2019 00:30:08 GMT

Yes, that should work.