Question

Shareholder's loan interest expense form 1099 INT

Forum|Forum|5 years ago
January 28, 2021
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I have a loan with my C-Corp which bears interest. My company didn't pay me back interest yet. Do I have to file 1099-INT when the interest expense occurs or when the interests are paid?

M-MTax

Shareholder's loan interest expense form 1099 INT (intuit.com)

Generally, interest is paid when it is credited or set apart for a person without any substantial limitation or restriction as to the time, manner, or condition of payment. But you don't have to file unless the interest payment is made in the course of your trade or business.