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Business & farm
Loans are not counted as income.
The fees paid to get the loan are deductible. Yes the loan fee is deductible.
When you enter the expenses for the Sch C business. there is a Section called Business Expenses, and under that "Other Common Business Expenses" and then go to "Other Miscellaneous Expenses" and deduct the amounts here for the fees paid (which includes that $800).
May 31, 2019
7:30 PM