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Where do I put in loans that my LLC's borrowed

I loaned 3 of my LLC's money, where do I put them in on Turbo?
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PatriciaV
Employee Tax Expert

Where do I put in loans that my LLC's borrowed

The money you invested in your LLC's is considered equity (even if documented as a loan) and is not reported for tax purposes. If you received interest income from the loans, you would report those payments under personal income.

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1 Reply
PatriciaV
Employee Tax Expert

Where do I put in loans that my LLC's borrowed

The money you invested in your LLC's is considered equity (even if documented as a loan) and is not reported for tax purposes. If you received interest income from the loans, you would report those payments under personal income.

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
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