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Business & farm
Thanks Cindy! So, I will draft a loan agreement from myself to the LLC. Then when I file my taxes, I will enter it as interest expense for the LLC and that will come through the 1065 partnership forms and K1s to my spouse and I. Is it then classified as interest income for us or is it investment income? Will TurboTax somehow ensure I report it correctly?
‎November 13, 2024
10:26 AM