I received a letter from my bank with a summary of Interest payments in regards to my SBA covid loan. The loan was completely forgiven. I take it they are saying this $137 of interest payments the SBA had paid to my bank is considered or reported as income to me?
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Yes, that is correct. Those interest payments must be reported on your return as interest income.
Yes, that is correct. Those interest payments must be reported on your return as interest income.
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