Dani70
Level 3
03-30-2023
07:11 PM
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In Pro Series schedule c I have looked and looked and can not figure out what line to put interest expense from a loan. Can someone please tell me what line to put it on?
Dani
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sjrcpa
Level 15
Dani70
Level 3
04-02-2023
01:06 PM
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Hello I was incorrect it is not on a schedule c. It is Loan Interest from a business he sold and carried the loan. So where would i put that in Pro Series
qbteachmt
Level 15
04-02-2023
01:10 PM
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Are you asking about an installment sale, with interest income, basis, etc? Do you have the details available? Was this the first year (the transaction happened in this tax year)?
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qbteachmt
Level 15
04-02-2023
04:31 PM
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Installment sale payments typically include more than interest income. That's why more details always are helpful.
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Don't yell at us; we're volunteers
Don't yell at us; we're volunteers
rcooley25
Level 11
04-02-2023
04:35 PM
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No. He needs fireball
