topic 1099-INT from IRS for closed C-Corp which already filed final return (income is for year after final return was filed) in Get your taxes done using TurboTax

1099-INT from IRS for closed C-Corp which already filed final return (income is for year after final return was filed)

sideshowbob_233 — Fri, 07 Feb 2025 00:23:31 GMT

Our C-Corp closed in Jan 2023 and we filed our final return in 2023 (filed in April 2024 on time). We overpaid a little due to concerns about underpayment and ended up just receiving a 1099-INT from the IRS for $30 for 2024 income (it took them a long time to finally process the refund).

How do we handle this? 2023 was our "final" return do we amend that return even though the income was in 2024? That seems to be what people recommended on this forum for estates which are similar in some ways.

Re: 1099-INT from IRS for closed C-Corp which already filed final return (income is for year afte...

DaveF1006 — Fri, 07 Feb 2025 00:30:04 GMT

No. For this little bit of income, i wouldn't worry about reporting especially if it is in the name of your C-Corp and TIN.

Re: 1099-INT from IRS for closed C-Corp which already filed final return (income is for year afte...

sideshowbob_233 — Fri, 07 Feb 2025 00:33:48 GMT

Seems like that could be playing with fire. If I was too cowardly to go that route, what would be the correct way to handle?

Re: 1099-INT from IRS for closed C-Corp which already filed final return (income is for year afte...

DavidD66 — Fri, 07 Feb 2025 02:04:17 GMT

I agree with DaveF1006. I would cash the check and not give it another thought. Another alternative would be to report the $30 interest on your personal tax return. You do NOT want to file a 2023 amended return for the C-Corp - the interest was paid in 2024. And you can't report it on a 2024 return for the corporation, the C-corp didn't exist. So it belongs to the owner(s) of the now defunct corporation.

Re: 1099-INT from IRS for closed C-Corp which already filed final return (income is for year afte...

sideshowbob_233 — Mon, 10 Feb 2025 13:29:46 GMT

Thanks guys - I like the idea of filing on personal return as a measure of good faith - no other really good options.