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Can i borrow 30k from a friend (for 3 months). No legal documentation etc. Is it allowed? Any tax implications for either of us. If yes, than whats the min I could borrow
I was planning to borrow some money from a friend.
1. Is that allowed
2. Do we need to have a documnetation
3. Any specific tax / IRS rules we need to be aware of
4. Is there a limit i could borrow without worrying about these rules.
‎June 6, 2019
7:07 AM