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    jndkehoe's Avatar
    jndkehoe Posts: 1, Reputation: 1
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    #1

    Nov 29, 2009, 01:56 PM
    My brother is loaning me $10,000. Is it taxable when I deposit it?
    My brother is loaning me $10,000. Is it taxable when I deposit it? Does it have to be less than that to not be taxable? Is there a time frame of how it needs to be paid back?
    ScottGem's Avatar
    ScottGem Posts: 64,966, Reputation: 6056
    Computer Expert and Renaissance Man
    		  
    #2

    Nov 29, 2009, 02:20 PM

    A loan is not taxable income. The time frame in which it needs to repaid is an issue of negotiation between you and your brother.
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