I have received one half of a personal loan amount including principal and interest. Do I credit half of the interest and half of the principal as repaid for tax purposes?
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1 Replies
AmyC
Employee Tax Expert
Apr 11, 2025 7:30:16 PM
The personal loan would not be added to your taxes, just the interest earned. Unless you mean you sold a house or something and carry the debt, that would be under an installment sale.