Questions related to filing form 966 with the IRS.

EatingTreeBark · ‎12-16-2019

1. On Form 966, should I write N/A in a box if it doesn't apply to my LLC?

For example, under line 8: "Total number of shares outstanding at time of adoption of plan of liquidation," I could put "0" in both boxes.

If it's not applicable, should I just leave it blank?

2. Which is technically the last month, day, and year of the final tax year?

My second tax return starts 10/01/2019 and it I mailed the notice of dissolution on
12-09-2019.

I received a certificate of dissolution on 12-11-2019.

Is it the day I received the certificate of dissolution or the day I complete and mail the final
tax return?

3. Do I have to report cash distributions to the IRS?

If so, which form do I use?

Note: This is a Tennessee LLC taxed as a C-Corporation. Not outside investors or loans. 100% funded and controlled by me.

I tried asking in a couple of other places, but could not get a reasonable response. Thank you very much in advance to anyone knowledgeable who can help.

George4Tacks · ‎12-17-2019

1. A blank is the same as a zero. Refer to the instructions https://www.irs.gov/pub/irs-pdf/f966.pdf

2. What date did you indicate as final day of business on the "notice of dissolution"? What did you put on line 4 of the 966?

3. 1099-DIV

Answers are easy. Questions are hard!