If you did not have employees, winding down the business is easier. For an S corporation you must:
- File Form 1120-S, U.S. Income Tax Return for an S Corporation for the year you close the business.
- Report capital gains and losses on Schedule D
- Sale of Business Property for each sale or exchange of property used in the business- this would apply to the S Corp business automobile.
See IRS Closing a Business. You also want to make sure you cancel your business registration with the secretary of state in the states you filed in.
NOTE:
If it was an S Corp and the car was not titled in the SCorp name, you cannot take the depreciation as a business expense- you would need a reimbursement policy for the personal use of your vehicle for the business. You need to correct that and since it has been a few years, you should seek a tax professional.
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