Welcome Guest. Register Now!  



Reply
 
LinkBack Thread Tools Search this Thread Display Modes
  #1 (permalink)  
Old 03-12-2010, 08:53 AM
Junior Member
 
Join Date: Mar 2010
Posts: 1
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?

beacee



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
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
401K an asset when determining insolvency? Wild Horses Filing Requirements 0 02-26-2009 10:45 PM
Insolvency liability Question goochman00 Income 1 02-11-2009 12:12 PM
1099-c and filing insolvency goochman00 Income 0 02-09-2009 05:48 PM
section a of the w4 bommer113 Income 0 06-06-2008 12:54 PM
Can I claim section 179 Deduction if I have a loss in my Corporation? cstatham Depreciation 1 08-22-2007 06:45 PM

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.