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Dissolved business and seed money

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  • Cardigon
    02-18-2019 09:29:23 PM
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    I dissolved my business in 2018 and used the remaining checks from the accounts receivable to pay myself back for loaning the business money. I was an independent contractor and was sent 1099 forms. The IRS has received these forms and expects me to claim the income on them with no discrepancy. Is there some kind of form to enter my tax-exempt income so the IRS won't come calling when my reported income and their records don't match up?