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Hi, I need to report $52000 that I did transfer to my corporation for working capital. How do I report that in my personal taxes and how do I inform that to the IRS ?

 
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Hi, I need to report $52000 that I did transfer to my corporation for working capital. How do I report that in my personal taxes and how do I inform that to the IRS ?

No need to report that transfer on your personal tax return.  This is one of two things for the corporation; (1) capital contribution (2) loan.

If it is a loan, then the only thing you will pick up on your personal tax return is any interest earned on that loan.
*A reminder that posts in a forum such as this do not constitute tax advice.
Also keep in mind the date of replies, as tax law changes.

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Hi, I need to report $52000 that I did transfer to my corporation for working capital. How do I report that in my personal taxes and how do I inform that to the IRS ?

No need to report that transfer on your personal tax return.  This is one of two things for the corporation; (1) capital contribution (2) loan.

If it is a loan, then the only thing you will pick up on your personal tax return is any interest earned on that loan.
*A reminder that posts in a forum such as this do not constitute tax advice.
Also keep in mind the date of replies, as tax law changes.

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