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I am preparing tax returns for 2012. I lent money on real estate for interest income, and made allot of loans. I assumed this

San Francisco, CA |

income would be reported on my Schedule B, interest income, but I think that the schedule is reserved for portfolio / passive income. I actively lend money, send bills, foreclose sometimes on property, and incur bad debt. Shouldnt this "operation" be reported on Schedule C, or some other form of operation?

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Attorney answers 1


This question should be answered by your CPA or tax preparer.

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