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Daycare and Taxes>EIDL Loan Interest Deduction
Daycarefamily 08:48 PM 05-23-2020
If I use 100% of my EIDL loan towards payroll, is the interest 100% deductible or is is subject to time/space %?
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TomCopeland 10:33 AM 05-24-2020
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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Tags:deduction - loan, loans, sba - loan, tom copeland
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