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C
CGKLC
April 13, 2024
Question

EIDL Repayment

  • April 13, 2024
  • 1 reply
  • 0 views

I received an EIDL loan. I understand that the interest is deductible as a business expense.

Is the repayment of the loan principle considered aa a repayment of government unemployment benefits?

1 reply

J
JulieS
April 19, 2024

No, it's considered a repayment of a business loan, not unemployment benefits. 

 

Repayment of unemployment benefits occurs when you have to repay your state unemployment agency for unemployment compensation that you shouldn't have received. 

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