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Protocol2000
Level 3

Officer loan to SCorp

Hello everyone, I have a situation where one of the officers loaned money to an S Corp with a 1% interest. through the year he got paid some 5,300, he asked if he will be getting an interest statement for his personal taxes, and I don't know the answer. Thank you for any help.

Solved
Best answer March 10, 2022

Best Answers
Rustler
Level 15

Officer loan to SCorp

The s-corp is required to issue a form 1099-INT if the total interest paid is over $10.00

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1 Comment 1
Rustler
Level 15

Officer loan to SCorp

The s-corp is required to issue a form 1099-INT if the total interest paid is over $10.00

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