I am borrowing several million dollars from a foreign bank against collateral located

dpuhlfritz8831 Posts: 1, Reputation: 1

New Member

Jun 28, 2010, 05:13 PM

I am borrowing several million dollars from a foreign bank against collateral located

Are loan proceeds from a foreign bank lender taxed when the proceeds are wired to my US bank account?

ScottGem Posts: 64,966, Reputation: 6056

Computer Expert and Renaissance Man

Jun 28, 2010, 05:23 PM

Loan proceeds are never taxed.

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