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October 3, 2022
Question

Is interest from a Disaster COVID-19 Economic Injury Loan tax deductible?

  • October 3, 2022
  • 1 reply
  • 0 views

For someone who is self-employed and filing a schedule C, is the interest from a Disaster COVID-19 Economic Injury Loan treated like any other business loan and therefore tax deductible?

 

This loan originated in July 2020.

 

Thank you for your reply.

 

 

1 reply

Critter-3
October 3, 2022

Any loan of any kind  on which you have to pay interest   is a deductible expense.  

sepazAuthor
October 4, 2022

Got it, thanks.