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Updated 4 months ago,

User Stats

7
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2
Votes
Cindy Auch
2
Votes |
7
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Is interest received from fix & flip loans subject to self employment tax?

Cindy Auch
Posted

Wanting to understand how the interest part of our income (partnership LLC) for short term loans- mostly fix & flips, are considered for tax. One accountant said it's not subject to self employment tax since it's considered passive (but origination fees and other loan income fees are subject to it. Another accountant said it's ordinary income subject to SE tax since we're a partnership LLC. Also anyone have insight on excess taxable income regarding the above and private lenders? Thanks

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