I am using someones credit card & pay them $100 per week cash & they don't want a 1090 at the end of the year. What can I claim the $100 per week as?
2007-03-25 08:51:19 · 4 answers · asked by Anonymous in Business & Finance ➔ Taxes ➔ United States
You can't claim it as anything. Personal interest isn't deductible. Legally, this money might be income to them, if you are paying them the $100 a week and also paying for everything that you put on the card, but it's not deductible to you.
Also, by most credit card agreements, for you to use their card they'd have to have your name put on the account.
2007-03-25 09:15:30 · answer #1 · answered by Judy 7 · 3⤊ 0⤋
By using someone else's credit card you are engaged in fraud, whether it is consensual or not! And you just POSTED that you are doing this on a public forum!
Not very smart.
Not very smart at all!
You should probably stop it.
2007-03-25 15:57:00 · answer #2 · answered by Anonymous · 0⤊ 1⤋
Not sure I understand your question. What is the $100/wk for -- toward the amounts your have charged on their card or what?
2007-03-25 15:58:36 · answer #3 · answered by Sharon N 1 · 0⤊ 1⤋
And you're a top contributor? imagine that...
2007-03-25 16:28:41 · answer #4 · answered by Jeff 3 · 0⤊ 1⤋