I cannot figure out what lines 21 or 23 should be of the 7203 form. Please don't refer me to the IRS how-to, I've read it and still don't understand.
What's throwing me off is line 16 asks "Loan balance at the beginning of the corporation's tax year" and Line 21 says "Debt basis at the beginning of the corporation's ax year." If I only have 1 outstanding loan to the business, would line 21 be the same at 16??
