turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

How does IRS treat credit card loans to small business owners? Income or what?

loans on credit card used for small business expenses are taxable or not?
x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

1 Best answer

Accepted Solutions
ColeenD3
Expert Alumni

How does IRS treat credit card loans to small business owners? Income or what?

No, it is not income if you have to pay it back. Any interest on the loan is an expense, however.

View solution in original post

1 Reply
ColeenD3
Expert Alumni

How does IRS treat credit card loans to small business owners? Income or what?

No, it is not income if you have to pay it back. Any interest on the loan is an expense, however.

Unlock tailored help options in your account.

message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question