Comments on: Family Housing Story From 1982 http://www.investingintelligently.com/2007/02/18/family-housing-story-from-1982/ Not just another (Canadian) financial blog Sat, 16 Oct 2010 15:22:19 -0700 http://wordpress.org/?v= hourly 1 By: Dave http://www.investingintelligently.com/2007/02/18/family-housing-story-from-1982/comment-page-1/#comment-6180 Dave Sun, 18 Feb 2007 21:26:14 +0000 http://www.investingintelligently.com/2007/02/18/family-housing-story-from-1982/#comment-6180 I'm not really sure about the tax consequences of loans between family members. I don't think it would make sense for me to have to pay income tax on $10,000 given to me from my father because that $10,000 is already post-tax. So if the government taxed me, that would be double taxation. Unless my father was able to deduct that amount off his income, which would make it pre-tax. I'm not sure of any other taxation issues here. If anyone knows of any please comment here. I’m not really sure about the tax consequences of loans between family members. I don’t think it would make sense for me to have to pay income tax on $10,000 given to me from my father because that $10,000 is already post-tax. So if the government taxed me, that would be double taxation. Unless my father was able to deduct that amount off his income, which would make it pre-tax.

I’m not sure of any other taxation issues here. If anyone knows of any please comment here.

]]> By: Mike http://www.investingintelligently.com/2007/02/18/family-housing-story-from-1982/comment-page-1/#comment-6164 Mike Sun, 18 Feb 2007 15:18:34 +0000 http://www.investingintelligently.com/2007/02/18/family-housing-story-from-1982/#comment-6164 That is an interesting story. Aren't there tax rules regarding loans, mortgages to family members? ie if the rate is below market then there could be tax consequences? That is an interesting story. Aren’t there tax rules regarding loans, mortgages to family members? ie if the rate is below market then there could be tax consequences?

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