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Self employed
Hi villaalfa,
Repayments of loans are not income to you. However, if you were paid interest on the loan, that is technically income.
Receiving something through Zelle does not automatically make it taxable. It is like any other payment. That means that it is the nature of the payment that determines whether or not a payment is taxable.
Also, transferring money between your own accounts is not taxable. As said above, it is the nature of what you receive that determines whether something is taxable or not. When you receive money for doing something, that is usually taxable...
I hope that helps,
Marty
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‎August 30, 2023
12:20 PM
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