Liquidating dividends and tax treatment

When a corporation decides to shut down, it liquidates its assets.

This means that the business sells off not just any inventory it may have, but its tools of production, building and any other assets it may have.

The basis in the stock is how much the taxpayer paid to obtain the stock.

You also may receive dividends through a partnership, an estate, a trust, or an association that is taxed as a corporation.

Some parents can choose to include the child's interest and dividends on the parent's return if certain requirements are met.

Use Form 8814, Parents' Election To Report Child's Interest and Dividends, for this purpose.

Let’s assume that the Lie Dharma Putra Company issued dividend to its common stockholders of $2,500,000 of which $1,000,000 is considered income and the rest a return of contributed capital. Common Stock Dividend Distributable = 300,000 [Credit].

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