“Kimberley Strassel”Move the Hunter’s Goal Posts» (Potomac Watch, November 3), regarding President Biden’s loan to his brother, surprised me. Doesn’t anyone in Washington know that interfamily loans must be carefully documented and require that an interest rate be set that is no lower than that of a Treasury of comparable maturity?
It is important to note that loan interest must be reported by the lender to the Internal Revenue Service on its tax form. I know this because I have made a number of loans to my own children.
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