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Stephen G.
Stephen G., Sr Income Tax Expert
Category: Tax
Satisfied Customers: 6171
Experience:  Extensive Experience with Tax, Financial & Estate Issues
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S corp. 50% shareholder. Had -10297 ordinary loss and -1515

Customer Question

S corp. 50% shareholder. Had -10297 ordinary loss and -1515 1231 loss. CPA put under line 16 of K-1. 2670 meals. And 8779 loan repayment and then line 17 3835 gain on repayment of shareholder loan. When I put info in turbo tax. I thought could claim a 10,297 loss? But turbo tax says no!! I can send pics of forms)
Submitted: 7 months ago.
Category: Tax
Expert:  Stephen G. replied 7 months ago.
How much is your investment in the S-Corp?
Expert:  Stephen G. replied 7 months ago.
Just Checking in....................Do you have any follow-up questions?If not, please remember to rate my response as that is the only way we receive credit for our work.Steve G.