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New Member
posted Jun 1, 2019 12:47:13 PM

HOw do i record a loan, i received 10K as a loan for my business

I took a loan for my business, deposited the $ into my business account. where do i record this in turbo tax ? 

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1 Best answer
New Member
Jun 1, 2019 12:47:14 PM

You do not report a business loan on your tax return because it is not considered income and you are required to pay it back.

2 Replies
New Member
Jun 1, 2019 12:47:14 PM

You do not report a business loan on your tax return because it is not considered income and you are required to pay it back.

Level 15
Jun 1, 2019 12:47:15 PM

You enter the actual expenses you used it for.