LouD Posted February 7, 2010 Report Share Posted February 7, 2010 New client has been paying down credit card debt that was incurred by his S-Corp that closed last year (1120S was marked "Final"). Is there any way to deduct this interest on his personal return this year? Quote Link to comment Share on other sites More sharing options...
Lion EA Posted February 7, 2010 Report Share Posted February 7, 2010 I had a partnership with that situation back when I worked at HRB, so no access to those returns. With my aging memory, I think I researched the answer to be to use Schedule E as if the expense was still passing though from the 1065. But, I'm already sleep deprived, so don't trust that answer. Just trust that there is a way and keep researching! Quote Link to comment Share on other sites More sharing options...
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.