Interest is not imputed on a gift loan between two individuals totaling $100,000 except when the borrowed funds are used to purchase income-producing property.

Name: Interest is not imputed on a gift loan between two individuals totaling $100,000 except when the borrowed funds are used to purchase income-producing property.
Brand: Quizplus
Rating: 4.7 (35 reviews)

Question

Quizplus · Accepted Answer

Interest is imputed on gift loans between individuals if the loan exceeds $10,000, regardless of the use of the borrowed funds, unless certain exceptions apply.

Interest Is Not Imputed on a Gift Loan Between Two