Updated almost 2 years ago on .
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Hard Money Lending Gains
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!