Question for the Hunter Biden experts

Hahahah! Think? He ain't budging!

 

At least he's got one.

 

Partisan politics aside, why in the world would a loan repayment show up on someone’s tax return? It’s not an income/expense item, it’s a receivable/payable item that would appear on a balance sheet and balance sheets aren’t part of someone’s tax return.

 

Ok for entertainment purposes let’s assume the Chinese stupidly sent Joe Biden $40k when Biden held no public office. Is that a crime?

 

Endlessly dumb GOP idea #736467237864.

If a Milwaukee business owner sold Jeffrey Dahmer something before anyone knew that name, does that mean the store owner supports cannibalism and murder?

They are basically saying that you need to know the history of any dollar you are given or you could be guilty of a crime.

Also as has been well documented, Joe was a private citizen in 2017 and had no ability to influence or direct any policy unless you think Trump took marching orders from Biden.

 

Yeah, that was one of the stranger suggestions I’ve seen. Being repaid at 0% interest is not income. If anything, it’s a loss if you are factoring the time value of money.

 

Do you put loans to family on your tax returns? Come on man

 

So much misinformation being spewed by the Biden lovers. So many posters obviously are not aware of imputed interest rules on related party loans. For the uninformed, there is no such thing as zero interest on a related party loan of $200,000. There MUST be an interest element of at least the applicable federal rate. So easy to look some of this up - keys words are imputed interest, applicable federal rate, related party loans.

 

Yeah, let's worry about uncharged and unreported interest on a $40,000 loan when the other guy has decades of unprovided tax returns that show millions in unsupported losses on real estate transactions. Makes perfect sense.

 

So you agree that there must be an interest element and all of your comrades have been spewing misinformation. Thank you

 

The OP has gotten very silent in search of other windmills at which to tilt. .

Meanwhile Hunter (who’s just a really shitty dude and likely a criminal independent of his father) shows up on Capitol Hill today wanting to testify in a public hearing but Comer won’t let him.

We are through the looking glass.

I thought transparency was a good thing? Why can’t we all watch him testify as to what he did and didn’t do. Or plead the 5th so we can draw our own conclusions?

The end of a great democracy is a painful thing.

 

Are you trying to be funny?

Imputed interest isn’t the focus of the discussion or investigation. It still would have been a 0% loan from father to son, however the IRS may consider Joe Biden to owe taxes on the interest amount based on a third party federal short term interest rate. Ok, that’s fine, but he still loaned it to his son at 0%, so your point is not only off topic, but incorrect.

 

He had about 10k more in taxable interest in 2018 than he did in 2019 (17k vs. 7k). That would more than cover a 200,000k loan for 2 months.

 

Nice try. So many on here thinking zero interest is ok and repayment of only principal is end of story. It is not. So many on here posting that this would not show up anywhere on tax return. It should show up with the interest income element. Who is off topic and incorrect now. LOL!!

 

Please provide the breakdown of interest as this would be reported on the return. Stop pretending to be a tax professional as its obvious you are not. You have absolutely no basis for making the aggregated blanket statement you just made. It makes no sense in the context of this discussion. LOL!!

 

Unless I missed it there isn't any documentation that Joe Biden was charging interest on the loan. If you can provide documentation (a link from a credible source would be acceptable) that Joe Biden was charging interest on the loan it would be greatly appreciated. Not an accountant or a tax lawyer but logically if there is imputed interest it would have been interest that Joe Biden should have received but elected not to do so. If anything Joe Biden elected not to report a loss, the last time I checked that's not a violation of any statute. Maybe James Biden should have reported Joe's decision to loan the funds interest free as income but that's not the issue, it's whether Joe Biden received a benefit and he clearly did not.

 

Zero interest is ok. In certain circumstances, the lender may be required to pay taxes on imputed interest, but the act of lending at 0% is not illegal. If you want to suggest that Joe Biden is liable for taxes on imputed interest, have at it. That’s not the focus of the discussion. Assuming that Joe Biden didn’t claim the 2% interest on $240K that means he didn’t add what… $4,800.00 to his millions of dollars of income for tax purposes? That might have been a couple hundred dollars of unpaid taxes by Joe Biden, right? I’m no accountant, but I have filed taxes for decades. Is this what you are concerned with?

 

Look, forget about the murders my guy has committed, have you seen the other guy's parking tickets?????

 

I pretended to be nothing. You asked for where it was. I told you. He reported that he received 11k in interest from an S-corp that he holds. Are you a tax professional?

 

The bolded is quite obvious by your reply. Please look up the rules and save some embarrassment. it does not matter if Joe was paid any interest or not. There is no documentation of Joe charging interest needed. Nothing about this creates a loss for Joe. That is quite hilarious actually and shows a certain level of your knowledge on this matter. The imputed interest needs to be reported as income on his tax return whether charged, collected or not. Simple rule. It is on what they call the interweb.