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Financial Planning / Tax Strategies


Subject:  Re: family "loan" vs. gift Date:  1/5/2000  5:47 PM
Author:  JAFO31 Number:  24455 of 128039

couzensj: "I think it would have been better if you had said that it was a demand note not a gift. See# 24446"

But then it would not have helped the nephew qualify for the house, or at leeast not as conveniently. A demand note would be short term debt and affect all the debt ratios as well as calculations of how much equity the nephew had in the house.

Just my $0.02. Regards, JAFO

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