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Updated about 3 hours ago,

Stanley Nguyen's profile image
Stanley Nguyen's profile image
Stanley Nguyen
  • Rental Property Investor
  • from San Jose, CA
  • Member since Mar 22, 2019
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User Stats

78
Posts
23
Votes
Stanley Nguyen's profile image
Stanley Nguyen's profile image
Stanley Nguyen
  • Rental Property Investor
  • from San Jose, CA
  • Member since Mar 22, 2019
Connect
Stanley Nguyen
  • Rental Property Investor
  • San Jose, CA
23
Votes |
78
Posts
Private Lending & Conventional Mortgage Advice

Tax on private lending fund

Stanley Nguyen
  • Rental Property Investor
  • San Jose, CA
Posted

I have been lending funds to a close friend of mine for a rate of 8%.  I got a 1099-INT from him to file my tax, which I paid a big portion out of 8% (effectively around 6% after paying the gov).  Is there a better way to do this?

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