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I'm from California and had my own business that I closed in
I'm from California and had my own business that I closed in Jan 2019. I filed taxes in 2019 and stated that my business closed when I filed my taxes. I have no expenses/income for year 2019. Question… read more
Lev
Lev
Tax Advisor
Bachelor's Degree Equivalent
47,997 satisfied customers
I closed my business last June. All the invested capital and
I closed my business last June. All the invested capital and the capital gain were transferred to my personal account. How this transfer should be reported? Which 1099? 8949? … read more
emc011075
emc011075
Tax advisor and Enrolled Agent
Bachelor's Degree
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NEED TO CLOSE A S CORP BUSINESS WHAT FORMS NEED TO FILE S
NEED TO CLOSE A S CORP BUSINESS WHAT FORMS NEED TO FILE S CORP FILED AND 1120S MARK FINAL TAX RETURN FIELD 0315/2019 ENDING TAX YEAR 2018 WHAT OTHER FORMS NEED TO BE FILED FOR THE STATE AND FEDERAL GO… read more
Carter McBride
Carter McBride
LLM
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Lane, can we file Form 966 and 1120 return to IRS as final
Lane, can we file Form 966 and mark 1120 return to IRS as final if there is no more business is done even though state (NJ) will not officially dissolve this entity due to past due unpaid taxes?… read more
Lane
Lane
JD, MBA, CFP, CRPS
Doctoral Degree
19,163 satisfied customers
I have a single member LLC which I must close this month. It
I have a single member LLC which I must close this month. It never made enough to pay myself a salary, but I did accumulate a few thousand dollars in the business account over the 5 years in business.… read more
Lev
Lev
Tax Advisor
Bachelor's Degree Equivalent
47,997 satisfied customers
I have a client who dissolve his c corp last year and he did
I have a client who dissolve his c corp last year and he did not file a Form 966 but filed with CA Secy of State Notice of Dissolution. His c corp was formed 2009 and dissolved 2016. No profit except … read more
PDtax
PDtax
Owner
Master's Degree
5,651 satisfied customers
I owned a c corp which was closed recently. I need to file a
I owned a c corp which was closed recently. I need to file a final return. where can I find the 1120 form for 2017? Thanks.… read more
Robin D.
Robin D.
Senior Tax Advisor 4
Vocational, Technical or Trade School
20,865 satisfied customers
I am a small business owner (c-corps). I am the only
Hi, I am a small business owner (c-corps). I am the only shareholder. I do online retails and all profit are from selling at amazon (no other investment) . I am working on the tax return and have a co… read more
Richard
Richard
Tax Attorney
Doctoral Degree
5,764 satisfied customers
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
Lev
Lev
Tax Advisor
Bachelor's Degree Equivalent
47,997 satisfied customers
We voted to dissolve our 2 person s-corp so we can retire
We voted to dissolve our 2 person s-corp so we can retire (age 76 & 70). We filed Articles of Dissolution with WA State & effective date is 10/23/15. We have 2 months and 15 days from that date to fil… read more
Lane
Lane
JD, MBA, CFP, CRPS
Doctoral Degree
19,163 satisfied customers
I started a "S" corp last year in November. I have changed my mind about doing t
I started a "S" corp last year in November. I have changed my mind about doing this business. Is a revocation letter the way to terminate this "S" corp with the IRS?… read more
Lev
Lev
Tax Advisor
Bachelor's Degree Equivalent
47,997 satisfied customers
I am working on an 1120-C. The property was sold this year.
I am working on an 1120-C. The property was sold this year. Do I prepare the return showing the gain on the property or do I just zero it out and transfer the gain to the LLC that owns the Cooperative… read more
CFEPro789
CFEPro789
Fraud Analyst
Master's Degree
369 satisfied customers
How to go about for requesting a (of money paid with
How to go about for requesting a refund (of money paid with federal extension) on Final Return of a C corp whose bank account was closed (the refund check needs to be in a different name)? For filing … read more
Lev
Lev
Tax Advisor
Bachelor's Degree Equivalent
47,997 satisfied customers
Our S-Corp went "under" around 2008 (cabinet maker). The corporation
Our S-Corp went "under" around 2008 (cabinet maker). The corporation AND my husband received a 1099-C for a line of credit the corp had with the bank. Where do I enter this - on our 1040 or 1120S? As … read more
Lev
Lev
Tax Advisor
Bachelor's Degree Equivalent
47,997 satisfied customers
As a follow-up to my previous question, I am in the process
As a follow-up to my previous question, I am in the process of closing out Corporation #1... I debited the inter-company loan and credited capital contributions which took care of the last remaining l… read more
Jax Tax
Jax Tax
Senior Tax Attorney
Master's Degree
1,394 satisfied customers
I have two S Corps that I simply wish to merge. One S corp
I have two S Corps that I simply wish to merge. One S corp has a Loan due Shareholder (me) but no revenue to pay it back; it's basically dormant. 1. Is a "merger" the correct approach? 2. What Federal… read more
Jax Tax
Jax Tax
Senior Tax Attorney
Master's Degree
1,394 satisfied customers
Once we file form 966 for the IRS and the form for the Secretary
Once we file form 966 for the IRS and the form for the Secretary of State, do we need to file income tax forms again to show how our funds were distributed?… read more
jgordosea
jgordosea
Enrolled Agent
Bachelor's Degree
2,885 satisfied customers
I am in the process of closing my s corp in NJ. Ive submitted
I am in the process of closing my s corp in NJ. I've submitted the paperwork and now awaiting approval (with about $10,000 in cash). Have a few questions: 1. While I am waiting for tax clearance, can … read more
Lev
Lev
Tax Advisor
Bachelor's Degree Equivalent
47,997 satisfied customers
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