BobKamman
Level 15

SSI is not an S Corporation (despite those S's)?

The party you don't mention may be the key to this tangled web.  Let's say Jones is the eminence grise behind all of it.  Are those really "small loans" coming from SSI to the LP, or are they disguised dividends?  Why does the LP need to borrow money, if it has no business activity?  And it's a partnership but has only one owner?  

As a Nobel Prize winner once wrote, 

You try so hard but you don't understand
Just what you will say when you get home
Because something is happening here but you don't know what it is
Do you, Mr. Jones?

0 Cheers