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Taxes on loan

Horse Asked by prettysoutherngal 3 months ago, 1 answer.

I recieved 37,000 from my grandmother as a loan . Do I have to report this as income? does she have to report this on her taxs?

Me - Created by maggot4 (Raven) Answered by ichibanarky on Jul 28, 2009, 05:51AM
9058 answers
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If there was any paperwork involved, claim it.

If there is no paper trail, then don't claim it

Although, a clear loan without interest that comes to you and goes back out isn't actually an income, is it...?

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