PATAX
Level 15
05-10-2021
05:52 PM
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@Dottie Fauci I believe the answer is no... Loans received and loan principal paid are generally not reportable transactions on form 1040... the schedule C and the form 1040 do not have a balance sheet... Other types of returns like 1120 for Corporation do have balance sheets... Hope this helps and as you know it is just my opinion...