the intention is to prevent what is hopefully a
When the company repays a loan where the shareholder's debt basis is less than the face value of the loan, the shareholder must take a portion of the repayment into income. Revenue ruling 64 162 calculates the income by dividing the reduction in basis by the face value and multiplying the quotient by the repayment amount.Example. In 2001 shareholder A, a 100% shareholder, made a loan of $100 to Widget Corp. (Privacy Policy)HubPages Traffic PixelThis is used to collect data on traffic to articles and other pages on our site. Unless you are signed in to a HubPages account, all personally identifiable information is anonymized. Amazon Web ServicesThis is a cloud services platform that we used to host our service. The watchdog post was created in 2010 as part of the Dodd Frank Act, Congress' sweeping response to the Great Recession. The law says the CFPB's "private education loan ombudsman" that's the official title should focus on students with private lo