Monday, August 15, 2011

Schedule C income or 1099 INT?

I started a single member LLC in 07 with an intent to buy rental property, which did not happen. The only income derived however is interest income from a note to a small private equity which does sale leasebacks. The money I lent is an et of the LLC. Do I record that income under schedule C "general income" or must I file that under schedule B under interest income? I did receive a 1099 INT.

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