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Get your taxes done using TurboTax
The purpose of schedule C is to report self-employment income. Unless you are in the business of loaning money, the interest income would be unrelated to your self-employment activities and as such it would be acceptable to report it on schedule B.
This would avoid the problem you have with the IRS not being able to identify it as being reported on your tax return, and would also shelter it from self-employment tax.
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March 9, 2020
5:50 PM