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Get your taxes done using TurboTax
@KrisD15 wrote:
Yes, that is perfect. If you have the wire of the money coming in, that would explain your wire going back out to them. No problem.
I will point out here that if your parents are also US taxpayers, there are certain complications with giving an "interest-free" loan, even to family members. If your parents are not US taxpayers, this issue is something that would be handled according to the tax laws of their home country.
March 22, 2021
8:55 AM