Grebezilla
Level 1
02-19-2021
08:20 AM
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Thanks qbteachmt.
Cash flow advances over $400k. No. No. Try to avoid those as the loan has been used for basis. No, never thought of that as on option before, but with the closing of the organization, I think that should work.
I would think that the change in treatment causes income for the loan basis that's been used on prior losses. Is that correct? Would I be correct in thinking that there's now stock basis that has no value that would offset that income?
Thanks again.
Rich