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2. Personal loans: Are they taxable income? - AOL

   www.aol.com/finance/personal-loans-taxable...

   Personal loans’ tax deductions depend on how you use the money. When personal loans are used for personal needs, you are not able to deduct payments from your annual income for tax purposes. In ...

3. Are personal loans taxable? How personal loans affect your ...

   www.aol.com/finance/personal-loans-affect-tax...

   Personal loans’ tax deductions depend on how you use the money. You cannot deduct payments from your annual income for tax purposes when personal loans are used for personal needs, such as: Debt ...

4. 3 Personal Loan Interest Payments That Are Tax Deductible - AOL

   www.aol.com/3-personal-loan-interest-payments...

   Personal Loans and Taxes. As a general rule, personal loans do not affect either your taxable income or your tax deductions. The amount you receive in a personal loan does not count towards your ...

5. Original issue discount - Wikipedia

   en.wikipedia.org/wiki/Original_issue_discount

   Section 1272(a) of the tax code requires that the Original Issue Discount is includible in the lender's taxable income at the end of each tax year, or part of the tax year if the loan was not owned for the full year. [1]

6. Debt settlement - Wikipedia

   en.wikipedia.org/wiki/Debt_settlement

   Taxpayers with portions of personal loans forgiven may not subtract the interest reported in Box 3 from the amount of reported income on this form. However, the IRS does not require taxpayers to report forgiven debt if the tax payer was insolvent at the time the creditor forgave the debt. Being insolvent means that the amount of a debtor's ...

7. Charge-off - Wikipedia

   en.wikipedia.org/wiki/Charge-off

   The purpose of making such a declaration is to help support a tax deduction for bad debts under Section 166 of the Internal Revenue Code. In that respect it is a form of write-off . Bad debts and even fraud are simply part of the cost of doing business.