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rboehm13
New Member

Personal loan reporting.

I have received a loan payout for $3000 in June. How am supposed to report that?
posted
‎June 3, 2019 12:02 PM
last updated ‎June 03, 2019 12:02 PM
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MargaretL
Expert Alumni
Expert Alumni

Personal loan reporting.

Since the loan is personal, as you indicate in your question, receiving payout has no impact on your tax return and you are not required to report it. You could never deduct it, and receiving it back is not reportable either.

‎June 3, 2019 12:02 PM
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