A friend need to borrow $50k for a year

He is in china, and I'll need to wire the money to him, and he'll wire it back in a year. Is this OK? Also, do we need to report the interest to IRS?

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• 你这么喜欢付税呀 -清纯河边草- ♀ (0 bytes) () 10/08/2006 postreply 21:15:42

• 回复：A friend need to borrow $50k for a year -單身老貓- ♂ (264 bytes) () 10/08/2006 postreply 21:26:02

• do not do it if he is not your dad or son! -a510050- ♂ (0 bytes) () 10/09/2006 postreply 13:18:46

• Don't trust him! I had bad experience on this! -xiaoxing- ♀ (139 bytes) () 10/10/2006 postreply 08:54:47