- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
I made a loan to an associate for his business. Is the interest on this loan considered capital gains or investment income? How would it be taxed?
Topics:
posted
September 13, 2024
7:51 AM
last updated
September 13, 2024
7:51 AM
Connect with an expert
Do you have an Intuit account?
You'll need to sign in or create an account to connect with an expert.
1 Best answer
Accepted Solutions
- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
I made a loan to an associate for his business. Is the interest on this loan considered capital gains or investment income? How would it be taxed?
See https://www.irs.gov/taxtopics/tc403
Taxed as ordinary income not subject to self-employment tax (unless you are in the business of making loans).
September 13, 2024
8:15 AM
2 Replies
- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
I made a loan to an associate for his business. Is the interest on this loan considered capital gains or investment income? How would it be taxed?
See https://www.irs.gov/taxtopics/tc403
Taxed as ordinary income not subject to self-employment tax (unless you are in the business of making loans).
September 13, 2024
8:15 AM
- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
I made a loan to an associate for his business. Is the interest on this loan considered capital gains or investment income? How would it be taxed?
Thanks for the quick reply.
September 16, 2024
10:11 AM
Still have questions?
Make a post