My sister in england wants to lend me money to buy a house in this country.
What the tax implications regarding this matter?
And also what is the best way(s) to transfer the money from england?
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My sister in england wants to lend me money to buy a house in this country.
What the tax implications regarding this matter?
And also what is the best way(s) to transfer the money from england?
There are NO tax implications.
You WILL need to report the transfer using Form 3520, but that is done to simply track the money. No tax will be due.
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