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Level 1

How do I report income from a closed business (which I received last year after I had closed the business) on my new business's S corp return?

I had an office which I closed and closed out the corporation and then I started a new corporation.  I received checks for the old corporation totaling $7400.  I want to report this but I'm not sure where to enter it on my new return.  I had an accountant who did this years ago but I don't know how he did it.  Thanks.

1 Reply
Level 1

How do I report income from a closed business (which I received last year after I had closed the business) on my new business's S corp return?

Hello,

For tax advice I would recommend contacting CRA tax tip line at 1-800-267-6999.