Welcome back! Ask questions, get answers, and join our large community of tax professionals.
- Topics
- Training
- Community
- Product Help
- Industry Discussions
- User Groups
- Discover
- Resources
Turn on suggestions
Auto-suggest helps you quickly narrow down your search results by suggesting possible matches as you type.
Showing results for
- Intuit Accountants Community
- :
- ProSeries Tax
- :
- ProSeries Tax Discussions
- :
- Dissolving an S-Corp, if all that is left on S-Corp B/S is cash in bank, common stock and retained earnings, can we distribute the retained earning to the 2 shareholders tax free?
Dissolving an S-Corp, if all that is left on S-Corp B/S is cash in bank, common stock and retained earnings, can we distribute the retained earning to the 2 shareholders tax free?
Options
- Mark Topic as New
- Mark Topic as Read
- Float this Topic for Current User
- Bookmark
- Subscribe
- Printer Friendly Page
dheckel323
Level 1
11-30-2022
12:24 PM
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
Labels
2 Comments 2
sjrcpa
Level 15
11-30-2022
12:37 PM
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
You don't distribute retained earnings. You distribute the cash. It is tax free to the shareholders up to the amount of their basis in the S Corp stock.
The more I know, the more I don't know.
