topic Re: Check received after I dissolved my S-Corp, should I deposit it? in Get your taxes done using TurboTax

Check received after I dissolved my S-Corp, should I deposit it?

rvhatcher — Tue, 10 Mar 2026 05:50:26 GMT

I dissolved my S-Corp to become a sole prop because I'm retired and it's much simpler. I sent an invoice to an existing client and he sent me a check made out to my S-Corp, not to me personally. I've formally dissolved the corp with the state but still have the checking account open. Should I just deposit the check then transfer the funds to my SP account or should I go through the hassle of asking my client to reissue the check correctly?

Re: Check received after I dissolved my S-Corp, should I deposit it?

Anonymous_ — Thu, 18 Aug 2022 15:09:48 GMT

Did your S corporation send the invoice to your client (which your client paid)?

It most likely will not make much of a difference if you are the sole shareholder, but you could simply include the receipt of this income on the final S corporation return (1120-S).

Re: Check received after I dissolved my S-Corp, should I deposit it?

Mike9241 — Thu, 18 Aug 2022 16:46:45 GMT

if the invoice was issued before the S-corp was dissolved then I would agree with @Anonymous_. if the S-Corp's final return was filed, then you would probably need to amend it. this would be so you don't pay the self-employment tax on the income. if issued after the dissolution, but the goods or services were delivered before this, I think S-Corp reporting would be proper. if the goods or services were delivered by you after dissolution then Schedule C reporting would be proper because of the self-employment tax liability.

after saying all this, if you're willing to pay the self-employment tax on the income, even though the income could be reported on the S-Corp, the IRS should have no objections.

Re: Check received after I dissolved my S-Corp, should I deposit it?

rvhatcher — Fri, 19 Aug 2022 13:19:40 GMT

The SP issued the invoice, but they paid to the vendor in their system, the S-Corp, rather than read the bold writing on the invoice to pay the SP. I dissolved the S-Corp on June 30 but kept the checking account open just in case something like this happened. I think I am going to deposit to the S-Corp account and pretend it came in before June 30.

Re: Check received after I dissolved my S-Corp, should I deposit it?

Anonymous_ — Fri, 19 Aug 2022 13:23:49 GMT

There will most likely be no tax reporting statement so there is no danger of a mismatch.