tschapira
Returning Member

Bad Loan Written Off in 2020 Business Tax Return 1120S. However in 2021, the loan started to perform - what do I do?

In 2020, I had written off a loan (I was the lender) on my 1120S but in 2021, it started to perform. What adjustment needs to be made? Does my 2020 1120s need to be refiled? 

 

@DoninGA 

@VolvoGirl 

@James-B 

@Michele_H 

 

#prioryear

#amend

#amendments