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#1772750 - 01/04/13 08:49 PM SBA Guaranty Fee & IRS Reporting
Atreides Offline
Junior Member
Joined: Nov 2005
Posts: 46
Does anyone know if an SBA guaranty fee is considered reportable to the IRS like interest and origination fees are reported?

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#1772781 - 01/04/13 09:09 PM Re: SBA Guaranty Fee & IRS Reporting Atreides
rlcarey Offline
10K Club
rlcarey
Joined: Jul 2001
Posts: 83,225
Galveston, TX
Is the SBA loan to an individual?
_________________________
The opinions expressed here should not be construed to be those of my employer: PPDocs.com

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#1772798 - 01/04/13 09:19 PM Re: SBA Guaranty Fee & IRS Reporting Atreides
Atreides Offline
Junior Member
Joined: Nov 2005
Posts: 46
Yes

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#1772850 - 01/04/13 10:00 PM Re: SBA Guaranty Fee & IRS Reporting Atreides
rlcarey Offline
10K Club
rlcarey
Joined: Jul 2001
Posts: 83,225
Galveston, TX
The only thing the fee might be considered would be points, but since this cannot be a principal residence they would not be reported. Since this is a business loan, the borrower will have to determine if the guarantee fee is a deductible business expense with the assistance of their tax advisor.
_________________________
The opinions expressed here should not be construed to be those of my employer: PPDocs.com

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