what is the irs imputed interest rate for 2008 for a loan between family members ($46,000)?
- Bob FLv 61 decade agoFavorite Answer
As long as you charge something around market you should be OK. If you want the exact amount, it changes monthly so you need to look up the month. It will also depend on how often you compound the interest and how long the term of the loan is. If you want to get that exactly, you are looking for AFR on the IRS web site and they post it monthly. So look up the month the loan started when you get there. (You don't have to watch it every month of the loan - the month the loan is made is all you need.)
Don't forget the gift tax implications of below market interest rate loans also.Source(s): January 2008: http://www.irs.gov/pub/irs-drop/rr-08-04.pdf June 2008: http://www.irs.gov/pub/irs-drop/rr-08-28.pdf pick a month: http://www.irs.gov/taxpros/lists/0,,id=98042,00.ht...
- Anonymous4 years ago
something between the perfect deposit fee your dad ought to earn putting the money in a CD or money industry account and the perfect fee you may might desire to settle for to take out a private loan for an identical quantity. astonishing now, you will be able to nicely be waiting to borrow at 8% and your dad may be waiting to get 5% return on a CD. for this reason something between 5 and eight% reward you the two. of course the midpoint (6.5% in this occasion) might chop up the earnings the two. of path with family contributors you will be able to make certain the elect of one is greater beneficial than the earnings of yet another and it is not unusal to have hobby unfastened loans or very low expenses between kin.
- Bostonian In MOLv 71 decade ago
Whatever market is for the type of loan in question.