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Tax Implications of Borrowing Mortgage Money From Family. – Going to the Bank of Mom and Dad or Grandpa's Savings & Loan for your mortgage might get you a better rate and your relative a long-term income stream at a.
Loans | Internal Revenue Service – Lending money or other extension of credit between a private foundation and a disqualified person is an act of self-dealing. However, this does not include lending money by a disqualified person to a private foundation without interest or other charge if the borrower uses the loan proceeds exclusively for purposes specified in section 501(c)(3) of the Code.
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