@mom_of_littles
Jenna
2 months
Thank you all for the interest/tax advice lol. My uncle is a smart, high up financial advisor for a large company so I’m sure he’s doing whatever is necessary.
2
0
324

Replies

@mom_of_littles
Jenna
2 months
My uncle bought my cousin (22) and her new husband a house in cash, so no interest (he’s very wealthy) and they are making payments to him. A lot of people are giving them grief about it, but if that was something we could do for our kids, I would in a heartbeat to help them.
593
248
13K
@StrayCatAgain
Stray Cat Again
2 months
@mom_of_littles If he is US and gave then the house at no interest there is definitely a risk of the interest being considered a gift by the IRS, but perhaps that was always his intent. My in-laws gave us a mortgage with a reasonable interest rate to avoid it being considered a gift.
1
0
3
@cindersCA
Cinders
2 months
@mom_of_littles I wish u could do the same . Not sure I know anyone that wouldn’t
0
0
0