Do I need to report a loan (approx. $200k) from a foregn corporation? Will it be taxable?

spacey1 · ‎June 1, 2019

AlanT · ‎June 1, 2019

No, you do not need to report the loan. Loans are not considered taxable income.

Also, there is no reporting requirement just because it is from a foreign corporation, as long as it is a legitimate loan. Retain all of the paperwork showing it was a loan in case the IRS has questions.

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AlanT · ‎June 1, 2019

No, you do not need to report the loan. Loans are not considered taxable income.

Also, there is no reporting requirement just because it is from a foreign corporation, as long as it is a legitimate loan. Retain all of the paperwork showing it was a loan in case the IRS has questions.

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

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Do I need to report a loan (approx. $200k) from a foregn corporation? Will it be taxable?