Sub S Corp Last Tax Return

[Bart]

How do you treat the ending capital balance when a sub s corp ends operations?

[ljwalters]

I have the same question, I have both a S Corp and a LLC final this year.

Waiting for your answers Bart

[jasdlm]

Is the capital account positive? If so, wouldn't you adjust it for any liabilities and then distribute what is remaining? What assets are left? I might be thinking about this way too simply.