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Business & farm
@VolvoGirl wrote:Where does it say by credit card is the same as cash?
That is fairly well settled (see the link below). Rev. Rul. 78-39
https://bradfordtaxinstitute.com/Endnotes/Rev_Rul_78-39.pdf
Essentially, it is the same as taking out a loan from your bank and then using some, or all, of the principal to pay business expenses.
‎June 17, 2020
9:26 AM