Announcement

Collapse
No announcement yet.

EIDL Loan SCorp Shareholder Distributions

Collapse
X
 
  • Filter
  • Time
  • Show
Clear All
new posts

    EIDL Loan SCorp Shareholder Distributions

    The SBA EIDL Loan agreement specifically restricts Shareholder Distributions and Loans to Shareholders. How are you handling S Corp Distributions on the 2020 tax return? The loan language is not specific as to the restriction using the loan proceeds for distributions or having any distributions during the tax year the EIDL loan is outstanding. Any thoughts are appreciated.
Working...
X