qbteachmt
Level 15
04-25-2021
02:28 PM
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"but I'm astonished at the difference."
The other assumption is that your client has nearly no expenses related to that income, for purposes of using Sched C. Those types of costs would be Basis, if this was "his" investment project. Or, Expense, if this was his business. You described money as Loaned, but not what it was used for.
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"Level Up" is a gaming function, not a real life function.
"Level Up" is a gaming function, not a real life function.