Trump suggest work around for funding Ukraine

[Luvnit2]

(03-07-2024, 04:18 PM)pally Wrote: That's aninteresting take...not a good one but interesting

Whether you like it or not...the Hollywood guy testified under oath that he loaned the money to Hunter Biden with expectations that he would be paid back.

Yes, by the technical letter of the law,  Joe should have charged interest but as you know interfamily short-term loans often skip some formalities. Based on testimony the loan was repaid in less than 2 months.  So the money wasn't a gift so no tax liability there and at a time when interest rates for short-term loans were less than 2%.  So a 2-month long $200,000 loan at 2% annual interest equals to about $500 of uncharged interest

2% loans are not the fair market value for a loan by a relative of friend for a long time. 

Personal loans from a bank bear higher risk for. the bank, thus if the rate for a car is 6%, likely 8 to 10% is considered fair by IRS standards. 

The Hollywood guy produced no loan papers to Congress detailing the loan terms. Joe Biden has failed to give Congress the loan papers for his loans with Jim or Hunter.

Where did you get the guy from Hollywood issued Hunter a short term loan? No loan papers and he testified Hunter may not have to pay it back. 

He loanded him 5 million dollars,using your 2% (too low), iinteret per years would be $100,000 dollars. A far cry from $500 you claim.