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Level 1
posted Jan 16, 2023 7:10:15 AM

I loaned a business $100,000.00 with a written agreement and interest at 8.75%. How do I report the quarterly interest payments I am receiving from that business?

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1 Replies
Level 15
Jan 16, 2023 7:21:27 AM

In the same manner as if you received a 1099-INT.

 

If this was a business arrangement, the business should send you a tax reporting document.