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I’m a little confused about how Interest Expense is handled for S-Corps. Roger has it listed as a separately stated item. “Interest and Dividends” But, it’s also a deduction from gross receipts on form 1120S.
I think I’ve seen it handled both ways on MCQ’s. Am I missing something? Is it included in the deduction for ordinary income? Is it not? Is it somewhere in-between.
REG on Monday. I’d appreciate the help.
Thanks.
Keith
AUD - 81
BEC - 84
FAR - 86
REG - 82Ethics - 78, 88, 94Do. Or not do. There is no try.
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