I lent my son some money to buy his home in 2003. it still has 10 years on the loan, but he decided to refinance with the bank and get a heloc to do some upgrades. the bank will be paying me the balance. Will I have to file some kind of paperwork with the irs or is this just the return of my own money and something that does not have to be reported? I have reported interest income on my taxes every year from the loan.
tax question
- Thread starter frank
- Start date
pb4uski
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
It's just a return of your loan... no need to report anything other than interest paid to you in 2021 on your 2021 tax return.
