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I'd like to record my loss in an s-crop as a shareholder loan. ProSeries doesn't allow an input to distribution to bring the negative balance to zero.

Hiker285
Level 3
 
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4 Comments 4
PATAX
Level 15

I may have to call my Farmer friends and Farmer clients and ask them if they ever heard of that crop...🤓

Hiker285
Level 3

Sorry, that is suppose to be S-corp.

qbteachmt
Level 15

What is this strategy for? You cannot wipe away an operating loss with a distribution entry. And why would you want to? What is going on here?

This doesn't seem like an 1120S tax return preparation question. It seems like you want some business strategy?

Are you the preparer and this is your client? Are you the shareholder? The only shareholder? A Shareholder-employee?

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Accountant-Man
Level 13

This doesn't sound like a tax professional's question.

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