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how i add the credit to the llc

the company has some debs from last year how I reflect
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1 Reply
PatriciaV
Employee Tax Expert

how i add the credit to the llc

Loans and other debts of an LLC are reported on the Balance sheet. Payments of principal reduce the balance of the debt and are not an expense. Interest paid on the debit is reported as Interest Expense under Business Expenses for the LLC.

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