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 Stephen G. Your Own Question
Stephen G.
Stephen G., Sr Income Tax Expert
Category: Tax
Satisfied Customers: 7152
Experience:  Extensive Experience with Tax, Financial & Estate Issues
Type Your Tax Question Here...
Stephen G. is online now
A new question is answered every 9 seconds

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: 1 year ago.
Category: Tax
Expert:  Stephen G. replied 1 year ago.
How much is your investment in the S-Corp?
Expert:  Stephen G. replied 1 year 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.