It is still the same thing. A shareholder cannot pay a debt for a corp and deduct it themself. They did not owe the debt. The corp owed the debt. They are two separate entities. Remember, that this is not a partnership where the partner can deduct certain expenses not paid through the partnership.
The corp would have to reimburse the shareholder for the expense and then deduct the expense on the corp return.
Lets say you are a shareholder in GE and you pay an expense for them. (something I'm sure they would aprreciate nowadays.) You would not be able to deduct that expense on your tax return because it was not your expense.
The corp would have to reimburse the shareholder for the expense and then deduct the expense on the corp return.
Lets say you are a shareholder in GE and you pay an expense for them. (something I'm sure they would aprreciate nowadays.) You would not be able to deduct that expense on your tax return because it was not your expense.
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