I have a question for the community.  I have a situation where there is going to be a liquidating distribution from an S-Corp to it's sole shareholder.  It is now May and would issuing a 1099-Div possibly create a penalty.  And I am asking if anybody has experienced accounting for a liquidating distribution by just putting it on Schedule D without going through the formality of issuing a 1099-Div.  Also does anybody know if the IRS actually looks for the 1099-Div when an S-Corp dissolves.  I would like to hear other's opinions on this.