Re: 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)?

Welcome back! Ask questions, get answers, and join our large community of tax professionals.

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)?

2 Comments 2

The year it is paid and allowed as a deduction.

The more I know, the more I don't know.

Perfect - thank you so much.