All Forum Posts by: David D.

The only thing that i thought might suggest a business it that I charge points and fees for originating the loan, like a mortgage broker would do. But I figure since it's my own money that I'm lending it's an investment, not a business. If I was collecting points and fees for originating loans for others I could see it being a business.

The license gives me a usary exemption.

I lost my day job recently and I want to qualify for unemployment, I can't do that if I'm self employed, as I understand things. And, I don't want to pay self employment tax if I don't have to. I figure I'll write off those expenses on schedule E. Does that sound like good reasoning?

Thanks.

If I lend my own money on a note and deed of trust, can I show the interest, points, and fees as investment income on schedule B or do I have to show it as business income on schedule C? I have a brokers license but use it only for my own investments.