S-Corp dissolution--? about depreciation on 1120s My partner and I have dissolved our s-corp as of Mid-December. We have opted to file our 1120s ourselves. The only income for our corp was with loans from shareholders (ourselves). If I include the depreciation from our assets (laptops, printers, etc. to = $180), I cannot get my schedule m-2 to balance out zero...our account balance at end of year...since we closed everything. Do I have to include the depreciation since we, technically, did not use the equipment at all last year? Also, are we supposed to do anything else regarding these assets? Our previous accountant gave us a "walk through" (if you will) about what we should be filling out. He says we do not have to file a 4797 or anything else. Is this accurate?...since it was all our money anyway...and it was only losses every year (for four years).
Thanks.
Last edited by TMED : 01-10-2013 at 01:51 AM.
Reason: no one was responding!
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