I have a client who is a shareholder in an s corp. She loaned the S corp money and has received interest. This interest is included in interest expense on the P&L. The only place that I could find to enter the self-charged interest on the k-1 was on screen 36. This entry places this amount in **bleep**. What am I doing wrong? Which form is correct? I tried entering self-charged interest in box 10 of Schedule K, but when I put it there, it divides it between all shareholders and messes up the M-2. This company has not elected to avoid the rules for self-charged interest. Please help.
Grr! It deleted most of my question. The part that was replaced **bleep**.
How is anyone supposed to answer my question if it keeps bleeping out my question? Grrrrrrrrrrrr!
type the word in, but put 'periods' between the letters to fool the censors on steroids.
(This place is AFU (see it that passes censorship..;-)
**bleep** the 7203 on the 1120s. 1040's 7203 is including self-charged interest but 1120's 7203 is not.
T.h.e 1120's 7203 does not match the 1140's 7203.
I guess it doesn't like the word f.o.r.m. kind of d.u.m.b for a forum on taxes.
@IntuitGabi and @IntuitBettyJo
Can you fix this stupid censor that is "bleeping" common words? It is making this forum useless.
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