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Updated about 7 years ago on . Most recent reply

Tax documents to give Private Lenders
In the past we have given our private lenders a 1099-Misc to report their earnings with us for the year. I have a lender wanting to offset his earnings with us with some losses in other investments he made.
Is there another way we can or should be reporting his earnings with us so he can offset his capital gains with his other capital losses?
My understanding is that he can't offset the two with using the 1099-Misc. Any advice or suggestions would be appreciated.