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Which deduction should I use? Turbotax Business

Hi,

Another newbie question! Thanks in advance for my stupidity.

Below is my deduction screen

I have to input some deductions, but not quite sure where it fits.

I have a 150K loan from the shareholders from 2021

1. This year 2022, I made revenue, so I returned 40K of the loan to the shareholder

Where do I make the deduction? (does not seem to have a specific category). Misc Category?

2. Another shareholder provided a 50K loan this year (2022). Is this added to the income or deduction tab?

Seems there is no place for it the income?

Thanks in advance!!

Best answer by MAK70

Loans from shareholders do not get reported on your tax return, except on the balance sheet. You enter any interest paid as a interest expense.

MAK70Answer

Loans from shareholders do not get reported on your tax return, except on the balance sheet. You enter any interest paid as a interest expense.

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