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- Re: 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?
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dheckel323
Level 1
11-30-2022
12:24 PM
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2 Comments 2
sjrcpa
Level 15
11-30-2022
12:37 PM
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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.
