If an S-Corp deducts interest borrowed by the owners to fund the business, can the owners also claim the interest paid an investment interest expense on their personal return?
02863
1 Best answer
ThomasM125
Expert Alumni
Apr 14, 2025 3:45:57 PM
No, the owners can't deduct interest that is deducted by the business, as that would mean you were deducting the same interest twice.
2 Replies
robinp
Level 2
Apr 14, 2025 3:04:17 PM
To be clear, the S-Corp deducted the interest paid as a business expense in determining net income.
ThomasM125
Expert Alumni
Apr 14, 2025 3:45:57 PM
No, the owners can't deduct interest that is deducted by the business, as that would mean you were deducting the same interest twice.