Tax Law (Questions About Taxes)/filing a personal loan


My mother cashed in a savings bond and sold stock in order to loan me $50,000.  She received tax forms to file the interest.  However, since she is over 70, she no longer needs to file taxes because she leaves off of less than $25,000 a year. Will giving her a Personal Loan Contract stating the conditions of the loan suffice, or what should we do?

you dont need to do anything with the loan...   the IRS does not care what mom did with the cash.  if you have brother or sisters, you might want to document the loan so they dont accuse you of defrauding mom, but if is just you and everyone knows what she did.. no big deal.    

but she will have to file taxes to report the income/gains on the sale.

did she sell the stock and cash the bond this year? or last? if it was last year, she will or should have already received a 1099 from the brokerage/custodian and also from the bank where she ccashed the savings bonds.  

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Tax and general business including hospitality related (hotel mgmt degree and experience in industry prior to obtaining ms tax and cpa).


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