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0 pointscosmicgadget13d ago0 comments

Taxed on repaying a loan?

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dismalaf13d ago· 2 in thread

No, taxed when you earn the money that repays the loan. Income tax, capital gains taxes, dividend taxes, estate taxes, etc... However the money was acquired to repay the loan, a tax was applied.

cosmicgadgetOP13d ago

Which is pendantically and functionally very different from the implied tax on repayment.

dismalaf13d ago

Maybe you didn't read it properly, I said taxed "on the income" then specified that's the money "used to pay it back".

Income has a specific definition if you want to be pedantic, and types of income are always taxed.

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