Imputed Interest on Low or Zero Interest Loans is Generally Taxable as Income

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Cornell Law Review Clears up Treasury Regulation #7872

http://www.law.cornell.edu/uscode/html/uscode26/usc_sec_26_00007872—-000-.html

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2 COMMENTS

  1. Shouldn’t the City have sent a Misc. 1099 to Kunkle Group for their zero interest $381,000 loan?

    • One would think that answer is yes. 1099’s would have been appropriate for the other 14 for profit businesses that received below market interest loans too.

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