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- S Corp closing is form 966 needed?
S Corp closing is form 966 needed?
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LSTAX
Level 4
02-17-2023
03:57 PM
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An S Corporation with only one shareholder stopped doing business and filed dissolution paperwork with the CA Secretary of state which was approved on 12/15/2022. Besides filing the final 1120S marked final and issuing the final K-1 to the shareholder, also marked final, is form 966 required? There is nothing to liquidate, no assets, just the small amount of cash that shareholder moved to his personal account and closed the business account. Also, should the final K-1 show zero total shares at the end of the year?
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