Post #8297 by Lapsody on the US Policy board

Halls of Shrewd'm / US Policy

Unthreaded | Threaded | Whole Thread (26)

Post New | Post Reply | Report Post | Recommend It!

No. of Recommendations: 1

Many of you might not know what's required to enter into a valid loan agreement.'' The IRS mandates that any loan between family members be made with a signed written agreement, a fixed repayment schedule, and a minimum interest rate. (The IRS publishes Applicable Federal Rates (AFRs) monthly.)'' Have all the Biden's provided the documentation yet?

If it's under 10k, they don't care. If it's over 10k they look to see if it was actually a loan. What makes it look like a loan? If it gets paid back. All money represented as loans by any Biden got paid back, and not after attention was drawn to it. Therefore, it looks like a loan. If it's an extended loan they might infer interest. But the real question is, is it a disguised gift? If it gets paid back, move on.

Post New | Post Reply | Report Post | Recommend It!

Print the post

Unthreaded | Threaded | Whole Thread (26)

Prev | Next

Announcements

US Policy FAQ

Contact Shrewd'm
Contact the developer of these message boards.

A community forum supporting civilized, and highly helpful, self-educating investors that come together for Shrewdness and merry spirits. These message boards closely follow the look and feel of the old message boards at boards.fool.com prior to the boards redirected to discussion.fool.com. Shrewd'm is not affiliated with the comprehensive and excellent investment website, The Motley Fool (TMF), in any way. The Shrewd commmunity here has owed, and continues to owe, gratitude to The Motley Fool for nurturing a culture of jovial irreverence towards Wall St, and that tradition will continue here.