Hi @Rick19744 ,
Thanks for your help. Here are my responses.
- The $25000 loan was used to fund the corporation.
- The loan proceeds were used for business expenses (COGS, general admin expenses)
- Yes, there was a loan agreement with interest rate specified.
- No, the loan was not repaid.
- We are in the process of filing the final tax return for dissolving the corporation.
- There won't be any distributions.
