Income from Loan – hbinfo

Income from Loan

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August 30, 2006 at 8:15 am #22678

Anonymous
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Clmt receives irregular payments from a loan company which she pays back when she can (much like a credit card). Shoud these credits from the loan company be taken as income or disregarded?

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August 30, 2006 at 8:16 am #9101

Anonymous
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If they are irregular payments it would probably be difficult to justify treating them as income, but I would consider treating them as capital (subject to a quick read of the appropriate schedule).
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