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Author Topic: Kiva and Taxes  (Read 4080 times)
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Joe
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« on: September 12, 2007, 08:58:56 PM »
Do I need to report my loans to the IRS on my tax return?
No. As Kiva.org currently does not provide interest to lenders, there is no way to make a profit on your loan. You do not need to report to the IRS loans which cannot earn you a profit.

If my loan defaults, can I then claim it as a tax-deductible donation?
No, because it was intended as a loan, not a donation.  However you can claim it as a capital loss.


Related Kiva Friends Discussions:
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