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Business & farm
Sadly if you are trying to qualify for Income Based Repayments on the school loans simply paying yourself $20K of the $100K the S-corp makes it will not work since the repayment is based on wages + the pass thru income from the K-1 issued by the S-corp. If you could do it this way the IRS and student loan entities would never get paid.
‎October 9, 2019
2:47 PM