Offer your thoughts or opinion on the input financial query or topic using your financial background.

Loan to S-Corp cannot be paid back, how to deduct from personal taxes?
Once the business is shut down, you'll need to show that the corporation is in bankruptcy and the amounts are unrecoverable. You can then report it as investment loss. I suggest talking to a tax adviser (EA/CPA licensed in your State), and maybe an attorney, on what the specific technical details are.