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jolalexclakes0318

Question

Do I file a final return in the calendar year for our LLC once operations stopped, or do I wait until all assets are disposed and funds are distributed to shareholders?

Forum|Forum|3 years ago
March 31, 2023
1 reply
0 views

The LLC has decided to stop operations effective 12/31/2022. Should I file the final return 1120S for 2022, or should I wait until 2023 once all assets and real estate is sold, and funds are distributed to the shareholders?

Not A Product Question

You will have to wait until all winding down is completed before you file the final return.

You must file Form 966, Corporate Dissolution or Liquidation, if you adopt a resolution or plan to dissolve the corporation or liquidate any of its stock. You must also file your corporation’s final income tax return. Remember to check the “final return” box, which is near the top of the front page of the return, below the name and address.