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L
lucifer
Level 2
September 24, 2021
Question

How do I figure statutory interest

  • September 24, 2021
  • 4 replies
  • 5 views

I need to find the applicable federal tax rate for a short term loan dated Ocotber 2019

 

This topic has been closed for replies.

4 replies

Just-Lisa-Now-
Just-Lisa-Now-Intuit Community Champion
Intuit Community Champion
September 24, 2021

you mean Imputed interest? Youre looking for the AFR?
https://apps.irs.gov/app/picklist/list/federalRates.html
does this help?

This might help you with figuring the interest.
https://turbotax.intuit.com/tax-tips/tax-payments/irs-tax-rules-for-imputed-interest/L7UbulHpC

♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪
    L
    luciferAuthor
    Level 2
    September 24, 2021

    Maybe I'm not reading them correctly.  So short term loan dated October 2019, promissory note states no interest, the rate I apply for imputed (yes) interest is 1.69% per year?

    L
    luciferAuthor
    Level 2
    September 28, 2021

    I didn't get a reply from anyone, is the short term rate for a promissory note dated October 2019 1.69% per year?

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