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Stephen G.
Stephen G., Sr Income Tax Expert
Category: Tax
Satisfied Customers: 6732
Experience:  Extensive Experience with Tax, Financial & Estate Issues
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I started my business with my money. If I take a loan payback,

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I started my business with my money. If I take a loan payback, do I have to claim it in the biz as income and claim it individually as income as well?

Stephen G. :

Hello, my name isXXXXX & I'll be helping you today. My goal is to give you a complete & accurate answer that you can understand.

Stephen G. :

No. Loan proceeds are not taxed.

Stephen G. :

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