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nnvvhh
on May 14, 2023
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The Greatest Wealth Transfer in History Is Here, w...
Another aspect of this arrangement: you don't pay federal income tax on money you receive as a loan in the US. The money does not count as income because of the matching obligation to pay it back.
sokoloff
on May 14, 2023
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Said differently, it doesn't count as income
because it's not income
.
I borrowed just shy of a million dollars to buy my house. That money sure wasn't income...
prepend
on May 14, 2023
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Is there any county where a loan is counted as income?
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