qbteachmt
Level 15
04-25-2021
02:28 PM
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
"but I'm astonished at the difference."
The other assumption is that your client has nearly no expenses related to that income, for purposes of using Sched C. Those types of costs would be Basis, if this was "his" investment project. Or, Expense, if this was his business. You described money as Loaned, but not what it was used for.
*******************************
Don't yell at us; we're volunteers
Don't yell at us; we're volunteers