These are not Members or partners; shareholders means each has Shares. When I sell you my shares of Ford, that doesn’t impact Ford. That is between you and me. There is Nothing to record in QB.

Resolution for '1120S issue: '2 member S Corp. S/H1 bought out the 50% share of S/H2. S Corp funds were used to pay S/H2. 3-yr install. plan of 6 pmts. How do I record this in QB and on the 1120S?' available: Yes.

The 1120S issue or error code is a known issue in Quickbooks Online (QBO) and/or Quickbooks. Support for this issue is available either by self-service or paid support options. Experts are available to resolve your Quickbooks issue to ensure minimal downtime and continue running your business. First try to resolve the 1120S issue yourself by looking for a resolution described in the article. If it is a complex 1120S issue or you are unable to solve the issue, you may contact us by clicking here or by using other 1120S support options.

For more information about resolving issues related to 1120S in Quickbooks/QBO or to get support for the issue '2 member S Corp. S/H1 bought out the 50% share of S/H2. S Corp funds were used to pay S/H2. 3-yr install. plan of 6 pmts. How do I record this in QB and on the 1120S?', click the link below: