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LZemler
New Member

My final tax return for S-Corp

I am a sole owner of an LLC with a S-corp election.

I am filing my final tax return, dissolving the LLC.

I need to know how the IRS wants me to use the negative $-56,512 in my M-2 Accumulated Adjustments acct.?

I 'm hoping it can flow thru my K-1 to counter my net income on this final tax return.

 

thank you

 

 

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1 Reply
RobertB4444
Expert Alumni

My final tax return for S-Corp

When you mark that the return is final all of your losses that have been suspended are taken in that final year.  So they should flow through exactly as you hope.

 

@LZemler 

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