LLC Scorp

If a LLC S-corp lends money to 3rd party that is not a shareholder. Where do I enter that in the interview?

posted

if it is to be repaid within a year, list as loan receivable under other current assets, otherwise list as loan receiveable under other assets. There are tax laws that deal with loans especially if they are non-interest bearing or carry a below-market interest rate. Also affecting this is the relationship of the S-corp and its shareholders to the borrower.