Message Font: Serif | Sans-Serif
 
No. of Recommendations: 0
Thanks so much for the advice. That queasy feeling in my gut has more to do with IRS fear than the lousy Tex-Mex I had for lunch.

For the most part, your answers made me more comfortable with my plans: declare the interest on both the investment and the loan (pretty much a no brainer).

As for the attorney, the parties aren't married, so I don't know how that plays out. On your advice, I am taking this up with my lawyer.

Thanks!
Print the post  

Announcements

Disclaimer:
In accordance with IRS Circular 230, you cannot use the contents of any post on The Motley Fool's message boards to avoid tax-related penalties under the Internal Revenue Code or applicable state or local tax law provisions.
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Community Home
Speak Your Mind, Start Your Blog, Rate Your Stocks

Community Team Fools - who are those TMF's?
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.
Advertisement