Brad22
Level 2
03-23-2022
01:33 PM
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Where do I record a cash inflow from a refinance on the 1065. Is it Income on Books not on Tax return or do I add it to each shareholders basis ?
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qbteachmt
Level 15
03-23-2022
01:36 PM
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It's proceeds from the new Debt; not Income. Think of that amount as an additional Loan amount, but rolled into the ReFi debt.
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dascpa
Level 12
03-23-2022
01:37 PM
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If a loan refi why isn't it a balance sheet item? Debit cash, credit note payable.
