How to file a 1120-S when a partner leaves mid year?

How to handle a Final K-1 for a partner that left in April 2018. I know I will select final K-1 for that partner, but what else must be done on the 1120-S?


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You will have to prorate the number of days in which the departing shareholder was a shareholder.  Include the last day he/she was a shareholder and count the number of days in the year in which the ownership existed.  That number will be entered on the shareholder information worksheet.  You calculate the income as usual and most programs should allocate the income properly.  Sale information and basis will need to be handled. 

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