S-Corp was closed and final tax return was filed. The following year - no income but paid final bills to vendors and credit card bills from personal funds. We will also continue to pay down a business loan from personal funds. I am hoping that I will at minimum, be able to claim the interest paid on the business loan somewhere but I have been unable to find clear answers on that. What form would be used to record the interest paid on a business loan for a closed S-corp? Thanks!

“What form would be used to record the interest paid on a business loan for a closed S-corp?”========>If you, as a shareholder , borrow money from a bank which you then lend to your S corp. Later the S corp pays interest to you who turns around and pays the interest to the bank. Obviously you will report the interest paid to you from the S corp on your Sch B. And you also need to report the interest you paid to the bank on Sch E, i.e. as an adjustment to the income reported by the Sub S.However, as you put your personal funds in the business in the form of cash, you clearly need to designate how the money is to be considered as a loan or as an owner investment. You can choose either a loan or an investment, but make sure the paperwork is complete and that it is easy to see how the transaction is considered on the books of the business. For example, you can set up loan from owner liabilities account to track all yur personal funds that you transfer straight(perhaps) from your personal bank account to company account. This is where you would record deposits that you make to your business from your personal funds. For example, in the case of S corp, shareholder's making loans to their S-Corp may take a tax deduction in the current year for losses in excess of their stock basis, but only to the extent they have loan basis. However, adjusted basis, loan basis of S corp, I mean, cannot be below zero. You can also set up vendor name with your name to track all your personal funds that you pay cash or using debit card to cover business expenses for reimbursing yourself for purchases you make for the business using your personal cash or debit card. When you write the check to yourself, use the various expense accounts to record all the purchases you made. You can also set up personal credit card account to track all business expenses that you pay using your personal credit card for recording the purchases you make with your personal credit card. You need to record the credit card charges to the various expense accounts as you would for any other credit card. When you write the check to yourself to reimburse for these charges, use this credit card account. I would treat it as if it were capital contributed (or funds lent to) the corporation. If the items were of a nature that they would not have been deductible (and not passed through as a deduction on Schedule K) then you may want to reduce the amount of the capital loss (to be conservative) by the non-deductible items.