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Our company loaned us money for 2 months last year (Nov & Dec). We have not yet paid it back or begun making payments on it.
We own about 66% of our C-Corp that made this loan to us. Do we have to count the loan as income on our means test?Thanks for the feedback guys. Unfortunately we can barely afford the filing fees let alone the attorney fees. That said, we don't treat our biz like a "cookie jar". We file taxes on time every year and engage in no co-mingling of funds, etc., etc. We cannot pull money from our company that we did not earn to pay the expense of the personal bk. The company is its own operation with other shareholders, etc., and we've already borrowed money as I've stated. The loan is a fully documented note with interest, a payment schedule, etc. It is a loan per our corporate accountant. But I'm concerned that since we haven't begun making payments and that it was the only revenue we received personally for 2 months "opinion" might throw it out as a loan & try to call it income.