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S corp final return filed in 2013, stockholder in 2015 pays

Customer Question
expenses of the s corp...
s corp final return filed in 2013, stockholder in 2015 pays expenses of the s corp can they deduct on personal return
JA: The Expert will know how to help. Please tell me more, so we can help you best.
Customer: s corp filed final return in 2013, stockholder pays outstanding debts of the s corp in 2015....can they deduct on sch c
JA: Is there anything else important you think the Expert should know?
Customer: stockholder also has 1099-C cancellation of debt (amex) of same s corp can they offset
Submitted: 2 months ago.Category: Tax
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Answered in 1 minute by:
10/6/2017
Tax Professional: Mark Taylor, Certified Public Accountant (CPA) replied 2 months ago
Mark Taylor
Mark Taylor, Certified Public Accountant (CPA)
Category: Tax
Satisfied Customers: 2,362
Experience: Certified Public Accountant
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Hi, my name is Mark. I will be happy to help you with your questions. On what basis did the S-Corporation file? Cash or Accrual? Were there any suspended losses of the S-Corporation due to basis issues?

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Customer reply replied 2 months ago
cash....not sure on suspended losses but I would say yes
Customer reply replied 2 months ago
This sounds like a scam....
Tax Professional: Mark Taylor, Certified Public Accountant (CPA) replied 2 months ago

If you are referring to the phone messages these are being generated from the website and not me. Based on your description it sounds like you did not have any suspended losses. You could have had suspended losses if you reported on the accrual basis and claimed the expenses previously.

Back to your situation. Yes, you are able to claim these expenses on your return. Do you itemize?

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