I am seeking a quote for preparing and filing a final federal S-Corp tax return (Form 1120-S) and providing dissolution guidance
Hello, I am seeking a quote for preparing and filing a final federal S-Corp tax return (Form 1120-S) and providing dissolution guidance. My single-member S-Corp had no income in 2025 and needs to be formally shut down. The key complexity is the distribution of a corporate-owned 2022 vehicle. The numbers are: Original Cost (2024): $80,180 Accumulated Depreciation (per last return): $20,400 Current Fair Market Value: ~$43,950 I need this handled correctly to account for depreciation recaptur
Quick Answer:
For the distribution of the corporate-owned vehicle, the S-Corp will be treated as if it sold the vehicle to the shareholder at its Fair Market Value (FMV) of $43,
Note: This answer is provided for convenience only. It is important that you speak to a CPA about your individual tax situation.
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