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Business & farm
No need to report that transfer on your personal tax return. This is one of two things for the corporation; (1) capital contribution (2) loan.
If it is a loan, then the only thing you will pick up on your personal tax return is any interest earned on that loan.
If it is a loan, then the only thing you will pick up on your personal tax return is any interest earned on that loan.
*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.
Also keep in mind the date of replies, as tax law changes.
‎June 5, 2019
3:27 PM