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New Member
posted Oct 21, 2022 7:41:34 PM

I lend a friend $30K loan and she repays me $2K monthly, is it taxable income? interest is 5%

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1 Replies
Level 15
Oct 21, 2022 7:46:16 PM

The interest is taxable.  Enter it as a 1099 INT.  All you need to enter is the bank name or who paid you and put the amount in box 1.