- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Business & farm
A business loan is not a tax-related event, so it is not reported on the tax return as income or expense.
Recording a business loan is an accounting entry that increases cash (assets) and creates a liability (loan). Both are balance sheet accounts.
**Say "Thanks" by clicking the thumb icon in a post
**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"
‎June 3, 2019
5:43 PM