Winnie5911
Level 3
12-04-2020
10:16 AM
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Hello,
I was asked to do a return for an individual who bought out his partner in their S-Corp. He is making payments to that partner. Does the buyout loan amount with payments/interest expense get recorded on his S-Corp books? If not, where on the 1040 do I list his interest expense for the loan to buy out his partner. Thank you.
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