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View Full Version : Who do you ask for help on a form 1120?


mickeysp
Feb 2, 2012, 03:19 PM
How is personal loan to a corporation handeled on form 1120

mickeysp
Feb 2, 2012, 03:25 PM
Does the loan go on shareholder share on schedule L, and on the schedule M1 line 7 as other in come recorded on books?

MLSNC
Feb 2, 2012, 03:42 PM
The loan would be reflected on Schedule L, but it does not go on the M-1. The other side of the entry would generally be an increase in cash.