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Old 03-12-2010, 08:53 AM
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S Corporation Insolvency - IRC Section 108

I am dealing with an S Corporation that became insolvent in 2009 and wants to dissolve. Now I have to prepare the final 1120s. How do I report income from debt written off at the corporate level but not on the Schedule K-1s as all income reported on the 1120S passes through to the K-1s?


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