please answer with detail. thank you
Research Problem 1. During 2019, John was the chief executive officer and a share- holder of Maze, Inc. He owned 60% of the outstanding stock of Maze. In 2016, John and Maze, as co-borrowers, obtained a $100,000 loan from United National Bank, This loan was secured by John's personal residence. Although Maze was listed as a co-borrower, John repaid the loan in full in 2019. On Maze's Form 1120 tax returns, no loans from shareholders were reported. Discuss whether John is entitled to a bad debt deduction for the amount of the payment on the loan. Partial list of research aids: U.S. v. Generes, 405 U.S. 93 (1972). Dale H. Sundby, T.C.Memo. 2003-204. Arrigoni u. Comm., 73 T.C. 792 (1980). Estate of Herbert M. Rapoport, T.C.Memo. 1982-584. Clifford L. Brody and Barbara J. DeClerk, T.C. Summary Opinion, 2004-149. Partial list of research aids: U.S. v. Generes, 405 U.S. 93 (1972). Dale H. Sundby, T.C.Memo. 2003-204. Arrigoni v. Comm., 73 T.C. 792 (1980). Estate of Herbert M. Rapoport, T.C.Memo. 1982-584. Clifford L. Brody and Barbara I. DeClerk. T.C. Summary Opinion 2004-149 Research Problem 1. During 2019, John was the chief executive officer and a share- holder of Maze, Inc. He owned 60% of the outstanding stock of Maze. In 2016, John and Maze, as co-borrowers, obtained a $100,000 loan from United National Bank, This loan was secured by John's personal residence. Although Maze was listed as a co-borrower, John repaid the loan in full in 2019. On Maze's Form 1120 tax returns, no loans from shareholders were reported. Discuss whether John is entitled to a bad debt deduction for the amount of the payment on the loan. Partial list of research aids: U.S. v. Generes, 405 U.S. 93 (1972). Dale H. Sundby, T.C.Memo. 2003-204. Arrigoni u. Comm., 73 T.C. 792 (1980). Estate of Herbert M. Rapoport, T.C.Memo. 1982-584. Clifford L. Brody and Barbara J. DeClerk, T.C. Summary Opinion, 2004-149. Partial list of research aids: U.S. v. Generes, 405 U.S. 93 (1972). Dale H. Sundby, T.C.Memo. 2003-204. Arrigoni v. Comm., 73 T.C. 792 (1980). Estate of Herbert M. Rapoport, T.C.Memo. 1982-584. Clifford L. Brody and Barbara I. DeClerk. T.C. Summary Opinion 2004-149