Daycare.com Forum - EIDL Loan Interest Deduction

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Daycarefamily

05-23-2020 07:48 PM

EIDL Loan Interest Deduction

If I use 100% of my EIDL loan towards payroll, is the interest 100% deductible or is is subject to time/space %?

TomCopeland

05-24-2020 09:33 AM

Eidl

Originally Posted by Daycarefamily:
If I use 100% of my EIDL loan towards payroll, is the interest 100% deductible or is is subject to time/space %?

It's 100% deductible because it is used exclusively for your business.

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