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Get your taxes done using TurboTax
You need to consult with a tax professional.
See https://taxexperts.naea.org/expertdirectory
Loans to shareholders are not deductible for the corporation and, in fact, the corporation will recognize income to the extent the shareholders pay interest on the loans.
The loan would be entered on your balance sheet if you keep one.
‎September 12, 2023
1:07 PM
2,789 Views