Discussion:Shareholder loan C to S corp
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Discussion Forum Index --> Advanced Tax Questions --> Shareholder loan C to S corp
Discussion Forum Index --> Tax Questions --> Shareholder loan C to S corp
| 12 June 2009 | |
| Clients incorporated and lent the corp $25,000. She wants S status so I'm using short year to apply for S by 6/15/09. Does the S/H loan to C corp on balance sheet carry forward to S corp? She an hubby only s/h; no salary; small loss in short year. I've searched the yellow box but don't see this discussed. Thanks. | |
| June 12, 2009 | |
| That's because there isn't any 'carryover' so to speak. Nothing changes except the tax filing. The Balance Sheet remains, it's not a new corp. | |
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