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March 13, 2025
Question

I gave another business a loan, where do I record this?

  • March 13, 2025
  • 1 reply
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I gave a business a 24-month loan and received some principal and interest

    1 reply

    March 13, 2025

    The interest is taxable to you.  Enter it into your tax return as though you had received a 1099-INT from the business.  Otherwise the loan itself is not recorded in your tax return.  The business should record it on it's balance sheet.

     

    @callah32 

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