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Deductions & credits
there are no limits on the amounts you can loan. no interest needs to be charged if the total for the loans to this individual is $10,000 or less. otherwise, just charge adequate interest. otherwise, you run afoul of IRC Code Section 7872. see this article for guidance.
for the AFR rates see this link
https://apps.irs.gov/app/picklist/list/federalRates.html
‎August 26, 2021
1:33 AM
3,228 Views