I have a C-Corp that I closed out at the end of the year. I will be now be working part time at my home. My question is that when I got to the end of closing out my Corp. It still owed me some money, and it has not money or equipment left. Could it be deductible somehow on my personal return. I don't do any Corporation returns, except mine. I have not found anything in my research. I am assuming that it is lost, like a NOL would be. Any suggestions.
-
-
Why did corp owe you money? Was it unpaid salary, reimbursement of expenses, repayment of loan, etc?? -
If the corp owes you money that isn't return of capital or a loan payment (part of which should be interest income), then it would be income on a personal return not an expense. taxeaBelieve nothing you have not personally researched and verified.Comment
-
It was money I loaned the Corp to pay off bills, I did this when we refinanced our home, long time agoComment
Comment