Y
yuw541
I have an S Corp which has undistributed profits from 2003.
I now need to distribute these profits as part of the
dissolution of my corporation. I am the sole shareholder,
and for the sake of discussion, the profits total $18,000
and my basis in the corporation is $10,000.
Question: Do I file a single 1099-DIV and mark all $18,000
as "non-taxable" despite the fact that $8000 will be
taxable?
I now need to distribute these profits as part of the
dissolution of my corporation. I am the sole shareholder,
and for the sake of discussion, the profits total $18,000
and my basis in the corporation is $10,000.
Question: Do I file a single 1099-DIV and mark all $18,000
as "non-taxable" despite the fact that $8000 will be
taxable?
Last edited by a moderator: