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Parent in INDIA (not a USA person resident citizen) wants to pay 100k for paying my home loan by sending direct wire transfer to mortgage bank. Do I have to report tax?
My father, non USA person, Indian citizen, wants to pay off some money ex: 100k towards my home mortgage loan, by sending WIRE transfer from India directly to my mortgage bank/company's wire account (and mentioning my loan#, property address, my name, ATTN: to Principal Curtailment loan).
In this case, I never got the money from my father, directly to my checking/saving account in a bank in USA. He is not a USA person.
Do I need to pay, report any taxes??
-- If his wire transfer directly to mortgage bank, reduces my home loan from 200k to 100k (after his wire is complete and my principal loan goes down)?
Thanks
In this case, I never got the money from my father, directly to my checking/saving account in a bank in USA. He is not a USA person.
Do I need to pay, report any taxes??
-- If his wire transfer directly to mortgage bank, reduces my home loan from 200k to 100k (after his wire is complete and my principal loan goes down)?
Thanks
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March 7, 2024
9:07 PM