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Answered in 4 minutes by:
9/10/2020
Carter McBride, Financial Advisor
Category: Finance
Satisfied Customers: 11,272
Experience: Adjunct Professor
VerifiedHey! I'm Carter, I'm a CPA and can help you out.
Distributions from the S Corp will not be on the 1099-DIV since it was never a C Corp and therefore doesn't have accumulated E&P to distribution.
You'll run the distributions through the M-2, including the distribution of the vehicle. Your AAA account doesn't necessarily need to be $0 at the end of the corp life.
Let me know if you need anything else. If not, please leave a rating. Thanks!
That's fine. Please leave a rating when you get a chance. Experts are not compensated for their time unless you leave a rating.
Carter McBride, Financial Advisor
Category: Finance
Satisfied Customers: 11,272
Experience: Adjunct Professor
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