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the deal with taxes when lending money
- To: http://www.vermont.gov/~flora. (Flora E ), http://profiles.yahoo.com/Flora (Flora E ), http://www.gmail.com/~flora (Flora E )
- Subject: the deal with taxes when lending money
- From: http://dummy.us.eu.org/robert (Robert)
- Date: Tue, 14 Mar 2017 20:52:40 -0700
- Cc: http://dummy.us.eu.org/noelleg (Noelle)
So, I agreed to lend $50K to mom and dad.
Do you remember what the deal with taxes are when it's no longer a "gift"?
I assume that there has to be a contract and the interest has to be
documented. Is there a minimum interest that needs to be charged, or
anything like that?