schedule C

[Therrell123]

I have a client who loaned her personal money to her Dress Shop. How can she use this as a deduction on her business?

Ivey

[Jiggers]

Schedule C

If she loaned the money to her own dress shop, she can't. Whatever she used the money for in the dress shop is how she deducting it.

You can't double dip.

[rosieea]

And, I might add, that there is no such thing as loaning money to your own Sch C business, because it amounts to loaning money to yourself. But, even if it were a loan to a separate entity, how would it be deductible?