MinhT1
Expert Alumni

Get your taxes done using TurboTax

The loan repayment does not affect the profit of the S-Corp and is not reported on the K-1s of shareholders either.

 

The loan is a liability of the S-Corp which is reported on the balance sheet of the S-Corp (Schedule L of form 1120S). If the S-Corp is not required to include the balance sheet, then you will not see it at all.

 

 

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"