If an S Corporation Shareholder's Basis in a Loan to the Entity

question 61

Short Answer

If an S corporation shareholder's basis in a loan to the entity has been _________________, the shareholder recognizes gross income when the S corporation repays the shareholder.

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Definitions:

Economic Development

The process by which the economic well-being and quality of life of a nation, region, or local community are improved according to targets of growth and development.

Infrastructure

The fundamental facilities and systems serving a country, city, or area, including transportation, communication, water, and power systems.

Price Controls

Government-imposed limits on the prices that can be charged for goods and services in a market, aiming to keep prices within a certain range.

Exports

Goods or services sent from one country to another for sale or trade.