Kemanda
Level 2
08-10-2022
01:37 PM
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
She never lived in the US and has no Tax ID. After completing the corporate tax return and paying capital gains taxes, I need to send her the residual money upon closing the corporation. I am concerned about the need to withhold money if any taxes are due.
She originally invested $123500 to open the corporation and now upon closing it i can send her $220000. Will she owe the IRS taxes on approximately $100000 gain.