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Country club went bankrupt. FINALLY SENT ME FORM 1099-DIV
Country club went bankrupt. FINALLY SENT ME FORM 1099-DIV with box 8 Cash Liquidation Distributions of $834 AND letter confirming our investment was $9,000. HOW do I report that in our extended tax en… read more
Dr. Fiona Chen
Dr. Fiona Chen
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I have a C Corp, 2 equal shareholders, all assets sold,
I have a C Corp, 2 equal shareholders, all assets sold, $150,452 cash, stock $2,439 and $148,013 in retained earnings. Are the cash and stock reported as distributions on the M-2? If yes, there is a n… read more
Lev
Lev
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I reached out to you in Jan 2018 with regards to a
Hi Stephen, I reached out to you in Jan 2018 with regards ***** ***** liquidation of a C Corp. Now that I am farther along in the windup I have another question. My role is to record the final bookkee… read more
Stephen G.
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I am a 10 year Tubo-tax user. This may be my last. Several
I am a 10 year Tubo-tax user. This may be my last. Several issues that TT has told me they would fix but have not. Here is my problem. Name is***** 3009 Sandhill Lane, Champaign, ILL 61822;***@******.… read more
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What do you do with a 1099-DIV for a REIT that has a $68K
What do you do with a 1099-DIV for a REIT that has a $68K amount in box(8) Cash Liquidation distributions? Is that taxable? I don't see anything in my software for that box… read more
Lane
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How are you? this is maggie. I have a question: if c
i have a question : if c corporation dissolve and liquidate all stocks by bank balance to shareholders, do i need to issue 1099-div on box 8 for the $ distribute to each shareholder? (the bank balance = stocks value) … read more
Lev
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YOU HAVE HELPED ME VERY MUCH IN THE PAST. I have a C Corp
Hi Stephen, YOU HAVE HELPED ME VERY MUCH IN THE PAST.I have a C Corp question. I need to get some cash, accounts receivable and jewelry liquidated to a 100 % shareholder. The cash is $ 190K the A/R is… read more
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Maybe, NY, ?? supporting evidence for waht? husband and wife
husband and wife owned s corp stock. wife dies and husband inherits wife's stock. two months later (within same tax year) all s corp assets sold at a large gain and corp liquidated. how does husband avoid depreciation recapture due to stop up in basis?… read more
Lev
Lev
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In Form 966, how do I answer question 10, section of the
In Form 966, how do I answer question 10, section of the code under which the corp is to be dissolved or liquidated? It is a C corp owned by my husband and me, since 1986, and we are simply dissolving… read more
Stephen G.
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My name is ***** *****. I'm trying to determine if a
Hi, My name is ***** *****. I'm trying to determine if a liquidating distribution from a PSC (the amount above my ROC) is still a capital gain or if it is considered ordinary due to it being from a PS… read more
Lev
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How to zero out Retained earnings about 9,000 and Share
How to zero out Retained earnings about 9,000 and Share Capital $1,000 in a C corporation (having a single shareholder) so as to minimize income tax when the Illinois corporation is being dissolved in… read more
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Ho Lev: I am reading form 1099-div as per your advice. QQQ1—1099
Ho Lev: I am reading form 1099-div as per your advice. QQQ1—1099 div to issue to the Estate and the Estate will pay 15% capital gain on the long term gain (liquidated value=200k) When final 1120 is fi… read more
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Does cash liquidation distribution have to be reported?
Does Cash Liquidation Distribution in BOX 8 of 1099-DIV have to be reported? This is the first time I have received a 1099-DIV with an entry in BOX 8.The only info I have is the amount. I understand t… read more
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I had a long term capital gains lossin 2008, but I could only
I had a long term capital gains lossin 2008, but I could only use $3000.00. I still have 2463.00 balance carry over for 2009. I used Premium turbotax last year, but lost my computer data. I tried delu… read more
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The problem....My husband has an IRA from which no distribution
The problem....My husband has an IRA from which no distribution was taken in 2008, also two pensions which he has been drawing for years..Now when I'm runnig the turbotax program is treating one of th… read more
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I received a form 1099 Div with a reportable cash liquidation
I received a form 1099 Div with a reportable cash liquidation which the company say is all long term capial gain and should be reported on schedule D. How do I do this… read more
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I have a 1009-DIV with 1083.37 in box 8. No other ...
I have a 1009-DIV with 1083.37 in box 8. No other information in any other box. Is this ordinary or qualified and how do I report it on my 1040A?… read more
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i have a question about how to handle an item related ...
i have a question about how to handle an item related to a cash liquidation distribution 1099-div entered it on my turbo tax in the proper space, but i don't see the amount showing up as income and th… read more
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