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Good afternoon. The repayment of a loan is not considered income. If there was no interest, however, some amount of interest....based on the Applicable Federal Rate.....would be imputed and that amount would constitute interest income.
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The information given here is not legal advice. As all states have different intricacies in their laws, the information given is general only. This communication does not establish an attorney-client relationship with you. I hope this answer has been helpful to you.
The Internal Revenue Code states that "gross income means all income from whatever source derived." Gross income is not limited to cash received. "It includes income realized in any form, whether money, property, or services." Gross income includes wages and tips, fees for performing services, gain from sale of inventory or other property, interest, dividends, rents, royalties, pensions, alimony, and many other types of income. Items must be included in income when received or accrued. The amount included is the amount the taxpayer is entitled to receive.
Repayment of rent does not fall within these because you have no net gain....you gave someone a certain amount of money and you received that same amount back.
If you have to validate that a loan repayment is not income to your accountant, you need to get yourself another accountant. :)
On this end, I only see your questions..I don't have the information as to what service you have signed up for. I'm sorry. :)