Debt Recourse and Tax Deductions for Partnerships and S Corporations
CTP
AUGUST 17, 2021
In a previous blog, we discussed how a shareholder in an S corporation or a partner in a partnership needs sufficient tax basis to claim a business loss. Tax basis refers to the amount that a taxpayer has invested in business assets, calculated by taking the purchase price and subtracting any accumulated depreciation. If the […]. The post Debt Recourse and Tax Deductions for Partnerships and S Corporations appeared first on certifiedtaxcoach.
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