Hello,
My S-CORP that did not have any income/earnings this year. However I paid salary my self during year.
For example, company had 100K in bank account in the beginning of the year, and after salary (60K) paid, 40K is left on companies bank account.
My question is that:
1- Does the salary (60k) count towards being a "loss" for the company?
2- Can I use the loss amount (60K) as deduction in my personal return (thru K-1) ?
Thanks much for any input!
