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Loans on my tax return?

Posted 24 February 2016

Carmen says:
23 February 2016 at 8:22

Do I need to reflect loans and repayments when capture income and expenses?

TaxTim TaxTim says:
23 February 2016 at 23:08

Not if they are merely transfers of money in and out with no effect on your incomes or expenses. Interest paid or received would have to be recorded though.

Carmen says:
24 February 2016 at 9:35

thanks!!!!

TaxTim TaxTim says:
24 February 2016 at 13:11

Only a pleasure!

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