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New Member
posted Mar 2, 2022 6:01:00 PM

Can I claim a check from a. Friend that I have to pay back for

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1 Replies
Expert Alumni
Mar 2, 2022 6:14:36 PM

To clarify

are you asking about a refer-a-friend promotion

or 

asking about a loan between you and a friend?  

 

If a personal loan is paid back with interest, the person getting the interest would claim that as interest income, but the person that paid the interest does not get to deduct it. They don't claim anything about it.