Taxes for Lending money - USA to India
Jul 11, 2021
9 Comments
My friend needs some cash for his business in India. I have already transferred $5000 this year to my brother for medical expenses.
How much more can I send to my friend this year? What’s the amount when either of us start paying gift tax?
Blind Tax - 250k 6 YOE.
comments
Also loans are not gifts, just make sure there is a written agreement.
Furthermore, there is no annual limit for medical expenses for family, but you must pay the provider directly! (Same goes for education costs.)