Anonymous
Not applicable

Get your taxes done using TurboTax

you made a loan to the S-Corp. You have to file the S-Corp return to take a tax deduction for the S-Corp's expenses.  technically those credit card expenses, assuming they are business expenses, were deductible by the S-Corp and the deductible on your personal return through the K-1 in the year they were put on the CC assuming you had basis in the S-Corp.   TT does not compute basis.  if there was no basis in the year the expenses were put on the CC putting money into the S-Corp gives you basis but even then you can only deduct the expenses to the extent you have positive basis before considering those expenses.