My brother lives in Europe and he is giving me some money on loan to buy a house. The money will come through a wire transfer from his bank account in Europe into my bank account in US.
Are there any taxes that I will have to pay? Would I need to explain the origin of the money to anybody (IRS)?
Thanks!
Are there any taxes that I will have to pay? Would I need to explain the origin of the money to anybody (IRS)?
Thanks!