Technical topics regarding tax preparation.
23-Aug-2019 10:56am
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This question is in regards to an S-Corporation.
Line 11 of Form 4562, I know we can include the compensation paid to the owner in the net income limitation calculation. Can we also include rent paid to the owner by the corporation?
23-Aug-2019 11:42am
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Wouldn’t that be like aggregating businesses knowing that each must have sufficient business income separately, I would say no .
23-Aug-2019 12:15pm
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That makes sense. Thank you, Terry.
23-Aug-2019 12:49pm
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IS the amount recorded as rent in the books of the S Corp cast in stone? Could it be that some of those funds could actually be distributions or loans to stockholder?
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