Question
Closing or Liquidation an S Corporation
I'm currently trying to close or shut down my S Corp. My S Corp has losses over the years but a little cash left in it's bank account and I plan use it to pay back as much of the loans the (100%) owner (myself) made to the corporation over the years, before closing.
I like to know how to legally/properly shut down/close my S Corp using Turbo Tax to accomplish this?
What is the best way to allocate/reimburse left-over bank funds back to the owner (myself), using Turbo Tax?
