Do I have to report loan to relative in a foreign country? In 2013, I made a rather large loan to my relative residing in another country with no ties to the U.S.
The loan was wired from my bank account to my relative's bank account in the foreign country. Since the loan is more than $10,000.00 I am pretty sure my bank had to report it to the IRS.
I do not receive any interest from this loan, my question is, do I have to report this loan anywhere in my tax return? Or is there a specific form I need to fill out? Thanks! |