Solved
Do I need to enter a shareholder short-term no-interest loan to the S-Corp if the S-corp repays the loan in the same year?
Due to cash flow issues, a shareholder (actually the President/Director/shareholder) made a short-term no-interest loan to the S-Corp early in the year in order that an outstanding gas tax bill could be paid. Within three months, the S-Corp repaid the shareholder after additional gas royalty revenues had been received. Does this even need to be entered and/or addressed in the tax return? If so, where are the entries made? Since it was nothing but a journal entry on the company books (money in from the loan proceeds and money out to repay the loan), was it even a tax-related item?
