Pam1040
Level 1

I have the same situation.  Previous tax preparer plugged the amount into "Loan From Shareholder", but client says it was never a loan and has never made/received any loan payments and does not plan to. Would like to reclassify as Add'l Paid In Capital as it should have been. Worried it will raise a red flag.

Client is a Single Owner S-Corp. 

Any guidance or suggestion is much appreciated!

 

Pam1040

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