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kmich91261
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Reged: 01/15/08
Posts: 119
Loc: Washington, USA
Re: Definition of Gift vs Loan
      02/12/08 12:43 AM

Pops the RCW includes gifts as one of the things to determine CS and/or SS. I've already consulted with a tax preparer friend and he was saying that yes, the IRS would consider it a loan if a promissory note was signed which includes the going interest rate as if a person walked into a lenders office asking for a loan. But if no promissory note was signed or if there is one but no interest rate (or to low of one) stated then this would be a gift. So I think I may have some legs on this since it would appear this may be a gift. Will just have to find out during the discovery motion for STBXs finances since this scenario is my STBX.

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Entire topic
Subject Posted by Posted on
* Definition of Gift vs Loan kmich91261 02/11/08 06:45 PM
. * * Re: Definition of Gift vs Loan Pops_IL_CP_Dad   02/12/08 12:26 PM
. * * Re: Definition of Gift vs Loan kmich91261   02/12/08 01:13 PM
. * * Re: Definition of Gift vs Loan matilda   02/11/08 07:44 PM
. * * Re: Definition of Gift vs Loan kmich91261   02/11/08 08:19 PM
. * * Re: Definition of Gift vs Loan matilda   02/11/08 10:01 PM
. * * Re: Definition of Gift vs Loan Pops_IL_CP_Dad   02/11/08 10:07 PM
. * * Re: Definition of Gift vs Loan kmich91261   02/12/08 12:43 AM
. * * Re: Definition of Gift vs Loan Pops_IL_CP_Dad   02/12/08 01:46 AM
. * * Re: Definition of Gift vs Loan Avaya   02/12/08 09:49 AM
. * * Re: Definition of Gift vs Loan Pops_IL_CP_Dad   02/12/08 09:59 AM
. * * Re: Definition of Gift vs Loan Avaya   02/12/08 01:00 PM
. * * Re: Definition of Gift vs Loan Pops_IL_CP_Dad   02/12/08 01:14 PM
. * * Re: Definition of Gift vs Loan kmich91261   02/12/08 12:06 PM
. * * Re: Definition of Gift vs Loan kmich91261   02/12/08 08:42 AM

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