If I loan some money to a company like Minvestment, which would give me a fairly good return in interest, can I declare this as money invested like I would for mutual funds for example?
When you loan money to someone with the promise of a good interest return, is that considered as investment?
If you invest money with Minvestment you can declare it as a loss when you lose all your money. The site looks like a scam to me. They are offering over 2% interest a day. (not 2% a year, 2% a day) No one can honestly offer rates that high.
However, hypothetically, if they were not a scam, you would consider it an investment. The interest would be reported on your taxes as interest income.
When you loan money to someone with the promise of a good interest return, is that considered as investment?
Yes, it is an investment. an investment is a vehicle that enables you to have your money earn more money. Whether you put money in a savings account to earn 2% interest or in a personal note receivable that earns 6% interest, you have investment money in order to earn income. If the investment is risky, the return is higher to compensate for the risk.
When you loan money to someone with the promise of a good interest return, is that considered as investment?
yes. interest income from loans is an investment.
When you loan money to someone with the promise of a good interest return, is that considered as investment?
yes, it is.
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