Business, 05.05.2020 16:31 whitethunder05

On January 2, 2019, Tim loans his S corporation $10,000. By the end of 2019, Tim's stock basis is zero, and the basis in his note has been reduced to $8,000. During 2020, the company's operating income is $10,000. The company makes 2020 distributions of $8,000 to Tim. He reports a(n):

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On January 2, 2019, Tim loans his S corporation $10,000. By the end of 2019, Tim's stock basis is ze...

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