Help - The 1099-A Process

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Can a EIDL loan from the Small Business Administration (SBA) be paid with a 1099-A?

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Germán Herrera
SBAloan

I borrowed a loan from them in 2021, due to Covid reducing my business greatly. I am requesting them to send me a bill vs. an electronic payment, which is what I do now. Does anyone know if this can be paid with a 1099-A? I have yet to see if they send a coupon with the paper statement. Thanks.

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Best Answer

The 1099-A process is a means to access the funds from the public trust for the benefit of the beneficiary. It is not to be used for business or business purposes.

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Germán Herrera
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I appreciate the clarification.