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Level 2
April 5, 2022
Question

When is basis reduced for interest exp on a s/h loan to an s corp - the year it is accrued or the year it is paid to the s/h (and allowed as a deduction)?

  • April 5, 2022
  • 1 reply
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1 reply

sjrcpa
Level 15
April 5, 2022

The year it is paid and allowed as a deduction.

The more I know the more I don’t know.
Level 2
April 5, 2022

Perfect - thank you so much.