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bandb1
Level 2
August 27, 2023
Question

Where do I enter interest expense on a Line of Credit?

  • August 27, 2023
  • 3 replies
  • 7 views
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3 replies

PATAX
PATAX
Level 12
August 27, 2023

If it is a Schedule C then you deduct it on the interest expense line. It's there.

    T
    TaxMonkey
    Level 7
    August 27, 2023

    That would entirely depend on what code section made the interest deductible.

      T
      TaxGuyBill
      Level 15
      August 28, 2023

      As the other comments were getting at, what was the money from the loan spent on?

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