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even the loaner are in China
do I have to get a attorney, most people are not familiar with international issue. Thanks
this is my question, most tax experts are not familiar with issue about us-china treaties, I know the easiest way is to treat it as an interest gree loan as gift, but my problem the money is not a gift, I have to and really want to pay the interest back.
so when I file tax return next year, I want to know whether the interest I paid is tax deductible, even the loaners are foreigners
Thanks for your reply.
how my relatives (brothers) apply for ITIN from China, they dont have green cards or any US ID.
They will use the Form W7.
This is because they do not have the Green Card and are not in US
Thanks. does that mean, every year, after they get the interest, they have to file tax return from China?
is there any amount line, for example, if the amount is less than $xxx, they do not need to file the tax return.