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Yes, the income they would receive from you is taxable. I'm curious to know why you think it would not be!

OTOH, if they gifted you the money (as, for example, a "warm-hands" inheritance), the funds are not taxable in your hands and, as they do not give rise to any interest for them, there are no tax consequences for them arising from the gift, either.

However, there are some tax niceties that you should be aware of if you decide to go the gift route (principally the potential effects of the Lipson decision at the Supreme Court) -- however, given that you haven't even raised the issue of a gift instead of a loan, I'll hold off on that. :rolleyes:

There's also family law issues associated with gifts of money used to pay off mortgages on principal residences. However, once again, you haven't even raised this. I must be a little bored at work today. :eek:
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