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Old 01-28-2008, 10:16 PM
Dwhite Dwhite is offline
Junior Member
 
Join Date: Jan 2007
Posts: 11
Can an S Corporation claim a loss despite the Officer/Owner's taking a high salary?

I would like to know if an S Corporation can claim a loss despite the Officer (who is a owner of the corporation) taking a salary that is greater than the loss?

Had I not taken a salary, I would be reporting a profit. However, I read in many articles that the officer of an S corporation should be taking a reasonable salary. Accordingly, I took a Salary that resulted in a loss in my S Corporation.

Would these K-1 losses be deductible on my personal tax return?

Thanks..
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