Will they audit?

[Evguen]

What is the name of your state? New Jersey. I have a question about IRS. Suppose one makes an expensive cash purchase( house) ,but doesnt make alot of money ,will IRS question the purchase? I plan on borrwing money from parents and relatives and dont want get them and myself into troubles? Any help is appreciated.

 

[Snipes5]

IRS interest is unlikely for something that is a one-time thing rather than a pattern.

Just make sure everything is well documented.

Snipes

 

[Evguen]

Thank you, Snipes5. By "documented" do you mean a written note ? Any other suggestions?

 

[Some Random Guy]

Do it anyway

Whenever borrowing or lending money, get it in writing.

Thins happen. Marriages, divorces, death, children.Put it in writing so there is no confision later. The audit is simple. If the IRS calls, can you prove where the money comes from. If yes, then you have no problems.