rocky63
Oct 28, 2008, 12:39 PM
I invested 200k in the purchase of a home with my brother back in feb.2008
I wired the cash from my bank to the escrow company. He was placed on title I was not. Know do I report this purchase transaction to the IRS not being on the deed? He says he will pay me the cash back with the sale of another home he owns in 2 yrs. Is it necessary to report to the IRS this transaction?
I wired the cash from my bank to the escrow company. He was placed on title I was not. Know do I report this purchase transaction to the IRS not being on the deed? He says he will pay me the cash back with the sale of another home he owns in 2 yrs. Is it necessary to report to the IRS this transaction?