Let's get some better facts:
- The S corp began in 2010 in which you contributed $10,000
- What were your share of the losses in each of 2010, 2011 and 2012?
- What has happened since 2012 as nothing has been mentioned about the gap years; from 2012 to 2019
- Have you received any K-1's since 2012?
- Do or did you materially participate in the S corp in any of the years since inception?
- Do you have a copy of the bankruptcy filing?
- Have you either contributed additional $$ or loaned $$ to the S corp subsequent to your initial capital contribution?
*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.
