SBA EIDL loan repayment

Hi everyone!!

I took out a EIDL loan for my business during COVID and I make monthly

payments to pay it back.
Does anyone know what Expense category the payments would be under for a Schedule C?

Thanks for any help!!

posted

Your loan repayments consist of principal and interest.

Interest is deductible under Interest. Principal repayments aren't deductible.

You should refer to your loan's monthly statements to calculate the interest portion of your repayments.

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Do you have an Intuit account?