3 ms·

Taxed on repaying a loan?

• dismalaf 4mo ago
  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.
  • cosmicgadget 4mo ago
    Which is pendantically and functionally very different from the implied tax on repayment.
    • dismalaf 4mo 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.
      • cosmicgadget 4mo ago
        I read it properly but "the implied tax on repayment" was referring to lovecg's comment.