- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
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?
Topics:
1 Best answer
Accepted Solutions
- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
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.
**Join us for our "All about the refund" event, sign up here
**Mark the post that answers your question by clicking on "Mark as Best Answer"
**Mark the post that answers your question by clicking on "Mark as Best Answer"
1 Reply
- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
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.
**Join us for our "All about the refund" event, sign up here
**Mark the post that answers your question by clicking on "Mark as Best Answer"
**Mark the post that answers your question by clicking on "Mark as Best Answer"
Still have questions?
Make a post
Or browse the Forums