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Im trying to figure out if Herman needs to add anything to his net income for tax purposes from this statement: For 2019, to allow
Im trying to figure out if Herman needs to add anything to his net income for tax purposes from this statement:
"For 2019, to allow Herman to take advantage of his employer's stock option program and purchase shares,Herman acquired an interest-free loan from his employer for $11,533 on July 1 of the current year. This loan requires annual principal repayments of $2,307 every July, commencing in 2020."
- *side note* Since he has not interest payment, i am confused if either the full amount should be added (which i believe is wrong) or if it is 0 since the repayment does not start until next tax year.
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