及知道 using HELOC for business 的老师们，请就以下的例子给个意见，谢谢 ^_^
For example, Peter has an HELOC of $200K @ 5% with a bank and he lent the amount to a LLC @ 9% for 6 months. The interest Peter has paid to the bank for borrowing his HELOC is $5000, while the LLC has paid him $9000.
By the end of the year, the LLC will issue Peter a 1099 with the amount $9000 and deduct this $9000 as a business expense. As for Peter, he'll use schedule B to report this $9000 as interest income and also report the $5000 as nominee distribution to the bank.
For this example, am I right from your point of view? If yes, may I know if there are any other tax treatments to the case above available? If no, please do correct me please.
Thanks a lot for everyone reading my post and/or giving comments.