LouD Posted February 7, 2010 Report Posted February 7, 2010 New client has been paying down credit card debt that was incurred by his S-Corp that closed last year (1120S was marked "Final"). Is there any way to deduct this interest on his personal return this year? Quote
Lion EA Posted February 7, 2010 Report Posted February 7, 2010 I had a partnership with that situation back when I worked at HRB, so no access to those returns. With my aging memory, I think I researched the answer to be to use Schedule E as if the expense was still passing though from the 1065. But, I'm already sleep deprived, so don't trust that answer. Just trust that there is a way and keep researching! Quote
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