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Loans Aren’t Taxable Income, But Convincing IRS It Was A Loan Is Priceless – Forbes

loans - Google News Dec 3rd, 2013 Loans.



Loans Aren't Taxable Income, But Convincing IRS It Was A Loan Is Priceless
Forbes
When your uncle loans you $10,000 to tide you over, is it taxable income? Nope. What about when the bank loans you $100,000? No again. That's provided it's a real loan and not income. That's a key distinction that lands lots of taxpayers in trouble ...

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