K-1 and Dissolution of the Corporation and Unrecaptured Section 1250 Gain

[lllr1111]

In going through Turbo Tax step-by-step, I'm entering my K-1.  It's asking me (as the corp dissolved this past year AND I show box 8c & 9 of my K-1),  "choose how I disposed of the corp"  with my two options of "I disposed of it without selling it" or "none of the above".  When I click on "....without selling it", those options don't seem to apply (gifted, transferred, sold).

I am 50% shareholder.  The corp dissolved and almost all monies were divided out to the shareholders. Which do I choose?  (Does it matter?)

Thanks.  (Part 2 of the question in a next post.)

[Anonymous]

where are you looking?

on the k-1 page between part II and II there is a section final amended

check final then click on the link quickzoom to disposition information

go down to part !!

check 1a for complete disposition

then 1b and 1c will be unavailable 

for date sold use date of liquidation

complete the other boxes in pink

the amount you received in liquidation is the sales price

in theory, if its always been an S-Corp and there has been no change in ownership, your basis before receiving the liquidating distribution should be the basis and equal to the distribution thus no gain or loss.