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If the loans were not made in the course of your trade or business, you have no 1098 filing requirement.

I don't know if that applies to me or not.

I am retired and don't really have a trade or business, and doing these loans takes very little of my time. But I don't do anything else for money except pull it out of my portfolio and the interest from the notes will provide about 1/3 of my income in 2006. They provided much less in 05 because I just started at the end of the year. I don't have a business entity set up, only a second personal checking account into which I deposit the interest and from which I pay expenses.


If I were you, I would check with your state's department of banking to see whether you fall under their jurisdiction. You may have a business and not know it.

Ira
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