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re: Greedy or Generous? What says the OT
Posted on 3/12/14 at 10:33 am to CajunAlum Tiger Fan
Posted on 3/12/14 at 10:33 am to CajunAlum Tiger Fan
What happens when she wants to claim the interest on her tax return? How are you going to handle the taxes you have to pay on the 7% you would be earning. Where is she going to get the money to pay you while she's in grad school? If she has to take out more money to go to grad school, I wonder which loan she would default on first. Yours or the banks? I wouldn't do it.
1
Posted on 3/12/14 at 10:35 am to guttata
quote:
What happens when she wants to claim the interest on her tax return?
interest on consumer debt is not tax deductible...on student loan debt it is but considering this would be a family deal done in cash, I doubt they are very worried about the tax implications
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