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    S Corp Dissolution

    Do I have this right? I kept the numbers small, but you get the point.

    Short Tax Year: Dissolving in November 1st, 1120S due Feb 15, 2007
    Distributing all assets: $7,000 (consisting of $4000 cash and $3000 equipment).
    Shareholder stock basis: $6,000
    Gain to shareholder $1,000 reported on 1040 Sch D as LTCG.

    Corp files 966 within 30 days of dissolution with attached resolution from shareholder.
    Corp files final 1120S.
    Corp files 1099 DIV with box 8 showing $4000 and box 9 showing $3000.

    Am I missing anything? Just trying to line up my ducks and don't want any hassles from the KGB, ur the IRS.

    TIA.
    Circular 230 Disclosure:

    Don't even think about using the information in this message!
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