Discussion:S Corp - disallowed losses from lack of basis
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Discussion Forum Index --> Advanced Tax Questions --> S Corp - disallowed losses from lack of basis
Discussion Forum Index --> Tax Questions --> S Corp - disallowed losses from lack of basis
| 10 March 2010 | |
| I must be getting "punchy" here--can I deduct suspended (disallowed due to lack of basis) losses in an S corp. if they are less than officer (shareholder) wages? Example: my losses are $50 K under a zero stock/loan basis with officer salaries of $100K (which helped produce the loss). Don't I get a basis add back for the wages here? | |
Death&Taxes (talk|edits) said: | 10 March 2010 |
| You are thinking of the 179 deduction, Tdh. | |
| March 10, 2010 | |
| Wages were paid to you, how does that ADD to your basis? It'd be like the corporation repaying the shareholder a loan (which would DECREASE basis) and saying whether that repayment can somehow INCREASE their basis. | |
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