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Level 1
posted Jan 28, 2025 1:49:03 PM

Do I need to report my SBA Disaster loan info on my taxes? I dont receive a 1098 from SBA.

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1 Replies
Expert Alumni
Jan 28, 2025 1:55:09 PM

If the disaster loan was used for your business, you can deduct the interest paid on that loan as a business expense (categorized as interest expense). Please note that only the interest is deductible, not the principal repayment. 

 

Interest paid is shown on the statements that you receive from the SBA. The SBA does issue form 1098 for this interest.