How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask PDtax Your Own Question
PDtax
PDtax, CPA, MBA
Category: Finance
Satisfied Customers: 4474
Experience:  Tax professional and business consultant for 35 years.
64119565
Type Your Finance Question Here...
PDtax is online now
A new question is answered every 9 seconds

I have an S corporation from 2007 to current the company had

Customer Question

I have an S corporation from 2007 to current the company had equity of $183,000 up to the corporation changing over to a C Corp. for whatever reason my accountant increase my loan amount to $240,000 shouldn't that be deducted from equity for the S corporation years.
Submitted: 1 year ago.
Category: Finance
Expert:  PDtax replied 1 year ago.

Hi from Just Answer. I'm PDtax, and will assist.