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S Corp Shareholder Loan Repayments

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S Corp Shareholder Loan Repayments

Larry 1956

My client has loaned money to his company over two tax years. I was entering them all as one loan. He also was repaid some of the loan in the 2nd tax year. Entering all the activity as one loan over two years triggered a Form 4797 gain which was incorrect. Jeff from Qbooks helped me figure it out

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