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Updated almost 2 years ago on . Most recent reply presented by

User Stats

7
Posts
2
Votes
Lisa Winklepleck
  • New to Real Estate
  • Wichita, Ks
2
Votes |
7
Posts

Hard Money Lending Gains

Lisa Winklepleck
  • New to Real Estate
  • Wichita, Ks
Posted

Hi All - 

I'm about to pay back a hard-money lender that will be earning interest off the money they lent our LLC for the purchase of a rental property. My question is on the interest that they're gaining. Do I need to report anything to the IRS or anyone for this? I just want to make sure I'm doing all my due diligence in reporting it for tax purposes if necessary.

Thank you!

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