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)?

cls5289-live-com · ‎04-05-2022

sjrcpa · ‎04-05-2022

The year it is paid and allowed as a deduction.

The more I know the more I don’t know.

cls5289-live-com · ‎04-05-2022

Perfect - thank you so much.