A few questions:
- How was the corporation capitalized? $$ amount
- How were the loan proceeds used?
- Was there a true loan agreement between the corporation and the shareholder, including stated interest?
- Was any of the loan repaid?
- Did you file a 2022 C corporation tax return?
- Any liquidating distributions in 2023 when dissolved?
*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.
