Discussion:Would this be a liquidating dividend?
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Discussion Forum Index --> Advanced Tax Questions --> Would this be a liquidating dividend?
Discussion Forum Index --> Tax Questions --> Would this be a liquidating dividend?
| 11 August 2008 | |
| Client had a C corporation, owned 50/50 with his father. The corporation sold some property 10 years ago and paid the tax on it, but client slowly took money out of the corp as loans until almost all money was gone. The father sued client for the money, and the court awarded the father 100% of the profit from the sale. So client paid back the loan and wrote the father a check for 100% of the profit. I have to do the final return for the corporation now, would that be considered a dividend to the father? | |
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