Does an S-Corp partial liquidation need to send the 1099-DIV to shareholders?

[LearningAsIGo]

Hi. My husband and I have an S-Corp, we are both officers/shareholders, 50/50.

Late in 2024 we sold/disposed of most of the equipment. Do I file the 1099-DIV for a partial liquidation?

I'll list some of the facts here in case they are relevant.

We didn't sell ALL of the equipment and continue to use what we have.

The business is still open under the same name/different location, still S-Corp.

Both officers/shareholders received their portion of the money on the sale of the equipment in one payment to each in 2024, separate from payroll.

The equipment was sold at a loss. Some of it was very old but still useful.

All of the equipment had been fully depreciated in prior years.

I hope I've covered enough of the circumstance to get accurate answer.

Thank you for any help you can give me, I am very appreciative.

[sjrcpa]

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[LearningAsIGo]

Will do, thank you.