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Sure. Not that unusual.

as a wild guess, since you said 'shares' it sounds like an ESOP of some type. it is possible some shares are 'tainted' and other shares are not. by 'tainted', I mean one of the owners put his shares into the plan and received a tax deduction, and therefore he is not able to receive any of those share if there are forfeitures or distributions which get reallocated.

He gets $20,000. The loan basically doesn't exist for tax reporting purposes since it was already taxed.

I don't know who this mkaufman person is, but he/she has some serious juice with the IRS!

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