We need some answers.
1. What is your state of permanent residence (your domicile)?
2. What is your husband's state of permanent residence (his domicile)?
3. Wh...
@Hendrixwrote:
I am not looking for deduction. I am simply asking if the borrower needs to pay more tax to IRS if he borrowed $100K or less from a family membe...
@Mike9241
All that you cite is the responsibility of the lender, correct? The original question is about the borrower. (But the lender should be made aware.)
Your question doesn't make sense, can you clarify? You're talking about a loan to buy a house, and then you are talking about portfolios and income.
Focusing ...
@rm2701
It's not double-taxation, the problem is the different tax years. Under US law, any withholding is only an estimate of the tax you might owe, and your t...