Schedule E and securities acquisition loan question

[Guest DBolling]

I'm trying to determine whether to answer "yes" or "no" to 1a on schedule E for a new leveraged ESOP plan. They do have a securities acquisition loan, but the question says "within the meaning of Code Section 133".

Based on a 5500 reference book, that author's opinion is that the answer is "no" if they do not have a security acquisition loan made BEFORE the effective date of the repeal of Code Section 133.

Agree?