https://ttlc.intuit.com/community/home-loans/discussion/loan-from-a-foreign-relative/01/1984334#M1141 <P>Hi,</P><P>My mother (Mexican Citizen / Non-US Resident), has offered to give me a sizeable loan ($200K) to purchase a home in the US. The funds are in a US Based Bank Account, she wants to make the loan to me with zero interest.&nbsp;<BR />Are there any tax implications to this?&nbsp;<BR />I am planning on creating a promissory note for the loan and keep it for documentation whenever or if ever all those transfers ring any alarms from the IRS.<BR /><BR />Any one have experience with this? How should I approach this?</P> Wed, 24 Feb 2021 22:00:42 GMT pablo86 2021-02-24T22:00:42Z https://ttlc.intuit.com/community/home-loans/discussion/loan-from-a-foreign-relative/01/1984334#M1141 <P>Hi,</P><P>My mother (Mexican Citizen / Non-US Resident), has offered to give me a sizeable loan ($200K) to purchase a home in the US. The funds are in a US Based Bank Account, she wants to make the loan to me with zero interest.&nbsp;<BR />Are there any tax implications to this?&nbsp;<BR />I am planning on creating a promissory note for the loan and keep it for documentation whenever or if ever all those transfers ring any alarms from the IRS.<BR /><BR />Any one have experience with this? How should I approach this?</P> Wed, 24 Feb 2021 22:00:42 GMT https://ttlc.intuit.com/community/home-loans/discussion/loan-from-a-foreign-relative/01/1984334#M1141 pablo86 2021-02-24T22:00:42Z