SBA Forgiven Loan - Interest Payments Letter

CurtisStevens · ‎January 21, 2022

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?

DaveF1006 · ‎January 21, 2022

Yes, that is correct. Those interest payments must be reported on your return as interest income.

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DaveF1006 · ‎January 21, 2022

Yes, that is correct. Those interest payments must be reported on your return as interest income.

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SBA Forgiven Loan - Interest Payments Letter