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S Corporation Owner’s Basis in Guaranteed Loan

June 27, 2018 / By Barbara Weltman

Owners can deduct losses passed through by the corporation only to the extent of their basis in stock and debt. When it comes to loans, merely guaranteeing a third party loan to the corporation doesn’t create basis. And, according to an appellate court, neither does a judgment creating liens on an owner’s personal assets. There must be an actual payment to create basis.

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