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You made a loan to the company ... the company can deduct only the normal business deductions even if they were paid with the loan ( ie payroll taxes ) but it cannot deduct the loan amount. And sadly the IRA distribution is still taxable and subject to the early withdrawal penalty.
You made a loan to the company ... the company can deduct only the normal business deductions even if they were paid with the loan ( ie payroll taxes ) but it cannot deduct the loan amount. And sadly the IRA distribution is still taxable and subject to the early withdrawal penalty.
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