Guarantee of S Corporation Debt Did Not Increase Basis

Date

2005

Authors

Outenreath, Alyson

Journal Title

Journal ISSN

Volume Title

Publisher

Abstract

A short analysis of the Tax Court case William H. Maloof, TCM 2005-75. Maloof guaranteed a $4 million loan for an S corporation which the company eventually defaulted on. Maloof argued that his loan guarantee should allow an increase in his bases, but the court disagreed.

Description

Keywords

basis, S corporation, William H. Maloof, company debt, shareholder, loan guarantee, Tax Court, economic outlay

Citation

Alyson Outenreath, Guarantee of S Corporation Debt Did Not Increase Basis, 7 No. 4 Bus. Entities 56 (2005).