Guarantee of S Corporation Debt Did Not Increase Basis
Date
2005
Authors
Outenreath, Alyson
Journal Title
Journal ISSN
Volume Title
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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).