Sep 4, 2024
9:41:05pm
9:41:05pm
They have to recognize the interest income you're paying but get an expense
equal to the interest they are paying on the loan. If those rates are the same, recognized income is essentially zero. No tax.
Tax pros feel free to correct me. I don't know anything about taxes.
Tax pros feel free to correct me. I don't know anything about taxes.
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- DirtyWater
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- Aug 29, 2005
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- Sep 15, 2024
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Sep 4, 9:38pm
Sep 4, 9:48pm
Your lender may require your parents to sign something stating that the money is a gift. Borrowing money to cover the
Sep 4, 10:37pm
Sep 4, 10:56pm