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bravehomesnc
April 23, 2025
Question

do you report loan income on your 1120S return

  • April 23, 2025
  • 1 reply
  • 0 views
this is for loans for 2 fix and flip projects, one we sold and realized profit, one we did not

    1 reply

    R
    RobertB4444
    April 23, 2025

    No.  Loans have to be paid back.  You don't report them as income and you don't report the repayment as a deduction.  Only the interest that you pay on the loan is deductible.

     

    @bravehomesnc 

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