[[What do I need to do to properly report payments made to me in repayment ofa loan I made to another individual? ]]>It depends on if the loan was simply an "unsecured" >loan, or if the loan was secured with real property.[[ However, is there aform I need to file with the IRS and send to this individual to allow him to deductthe interest payments from his taxes (assuming he is eligible for itemizing hisdeductions)?]]>Again, the answer is yes. But that form will be >different if the loan is secured by real property or >simply an unsecured loan. If you'll clarify your >question, I'll be happy to provide you with >additional information.Thanks for the quick response, Roy. It is an unsecured loan made at a market rate.Don S.
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