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Cake day: June 10th, 2023

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  • danc4498@lemmy.worldtomemes@lemmy.world10 years later
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    20 days ago

    Did you ever pay off that 6 figure loan? What would happen if you didn’t?

    I assume the 6 figure loan is done that way to avoid paying taxes on a gift, so I wonder if there’s any repercussions for not paying the loan back. Or maybe your parents would claim that as a loss on their taxes and end up paying less taxes from it.