RobertB4444
Expert Alumni

Business & farm

When you made money in the S-Corp it was shown as income on the corporate return and then you paid taxes on it on your personal returns.

 

What you do with that money after you pay taxes on it is not the IRS's business.  They already got their cut.  So if the money went into an account for the business that doesn't reflect as something taxable for the future.  You guys already paid taxes on it.

 

@Maxtax899 

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