EIDL Loan Interest Deduction

Daycarefamily

Daycare.com Member

Join Date: Jan 2018

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#1

EIDL Loan Interest Deduction

05-23-2020, 07:48 PM

If I use 100% of my EIDL loan towards payroll, is the interest 100% deductible or is is subject to time/space %?
Tags: deduction - loan, loans, sba - loan, tom copeland

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TomCopeland

Business Author/Trainer

Join Date: Jun 2010

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#2

05-24-2020, 09:33 AM

Eidl

Originally posted by Daycarefamily View Post

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.

http://www.tomcopelandblog.com
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