Final c-corp tax return with shareholder loan


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A friend of mine owns C-corp (he is the only owner/employee), on corp last year return 1120 schedule L: loans from shareholder=300k (his personal loan to company), retained earnings=-200k (due to stock loss), total liabilities and shareholder equity=100k (cash left).

now he wants to close the company, filing final tax return, company paid back 100k cash left, what will these final numbers be like? his CPA zero out all 3 numbers, where then can he show 200k non-business bad debt to IRS on company book?

question in a different way, when he loaned his company 300k, should he report this amount somehow on his personal tax return? he didn't report anything on personal, how can he all of sudden claim 100k non-business bad debt on his next year personal return? if company all zero out on final corp return, where can IRS find/cross check these 300k loan and 100k loss?

thanks!
 
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