I am using TT for business - filing the 1120S. The company took out loans to cover operating expenses this past year. Can we deduct the interest we paid on the loans? When I entered the interest expense into the deductions section of TT, the program asked me if I need to file 1099-INT. I thought 1099-INT was if we collected interest, not paid it. I'm confused - any guidance would be greatly appreciated.
