Welcome Guest. Register Now!  



Reply
 
LinkBack Thread Tools Search this Thread Display Modes
  #1 (permalink)  
Old 03-14-2009, 12:09 PM
Junior Member
 
Join Date: Mar 2009
Posts: 1
dissolving S corp

I have an S corp I would like to dissolve. I formed the company a couple of years ago and have had no income or payroll. I am 100% shareholder.
Beginning tax year 2008 only asset I had was 2000 cash. I believe I have to do a cash distribution to zero out balance sheet.
Where do I show that cash distribution (under what line) on an 1120S?



Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!Reddit! stumble!bookmark in google!Share on Facebook!
Reply With Quote
Ads
Reply



Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

vB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Dissolving S Corp and Capital Gains danurag S-Corporation 1 05-18-2008 02:08 PM
What are the procedures of dissolving a NJ Corporation? larry C-Corporation 2 03-24-2008 04:06 PM
Final Accounting for dissolving an S corporation rubyk1 S-Corporation 1 03-09-2008 04:37 PM
What are the consequences of not dissolving a C Corporation in State of NJ? larry C-Corporation 1 11-04-2007 11:37 AM

Follow us on Facebook Follow us on Twitter Google Buzz Rss Feeds

» Categories
 
Individual
 » Income
 » IRA/Sep
 » Medical
 
Corporations
 » Payroll
 
Forum for CPAs
 
Financial Planning
 
 
 

» Recent Tax Q&A
No Threads to Display.