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1120-US: Shareholder termination and qualifying dispositions FAQs

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The following includes answers to common questions about shareholder termination and qualifying dispositions.

How do I prepare an 1120S return for a shareholder who has terminated his/her interest or made a qualifying disposition of their interest during a tax year?

What constitutes a qualifying disposition under IRC 1.1368-1(g)(2)(i)?

What constitutes a terminating election under IRC 1377(a)(2)?

Why are Schedule K-1 statements not printing after making a section 1377 or 1368 election?

Which shareholders are listed in the consent to the S Corporations Section 1377(a)(2) election?

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