360 Tax Martin
Level 3
09-22-2020
11:47 AM
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S-corp owner, Loans money to 3rd party. He is being paid interest on the loan. Is the interest on this loan passive income?
Since it is NOT portfolio interest, will this be passive income and also subject to At-risk limitation rules?
If it is considered at risk, can this income be offset by prior year unallowed, "at risk" losses from another s-corporation owned by the same individual?
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