A couple of comments:
- The attorney most likely only handled the dissolution documents that are necessary for the Secretary of State.
- The 2021 EOY amount of $53,840 just becomes the BOY amount in the AAA column.
- I assume you have the details of any current year (final year) activity to input into the tax return
- You will obviously need to mark the return and K-1 as final
- If there were liquidating distributions, those amounts do not get reflected on the 1120-S. Those need to be reported on form 1099-DIV.
- The key here will be the shareholder's tax basis as that will drive the gain or loss on dissolution.
- As has been noted, you may need to seek some professional help. The S corporation tax return was due March 15th.
*A reminder that posts in a forum such as this do not constitute tax advice.
Also keep in mind the date of replies, as tax law changes.
