money to loan
Sino American relations
When you loan money to someone with the promise of a good interest return, is that considered as investment?
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?
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.