Question
1120S Shareholder K-1
Taxpayer just received their 1120-S K-1 showing an amount in Part 2, Line H Loans from shareholder. Where does this information come into play on the taxpayer's personal tax return? I'm thinking it should be reported on IRS Form 6198. Any help would be greatly appreciated. Taxpayer has a NOL due to the 1120-S K-1.
