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-   -   Quick question about Federal AFR (http://forums.pelicanparts.com/off-topic-discussions/1015651-quick-question-about-federal-afr.html)

wdfifteen 12-15-2018 03:51 AM
Quick question about Federal AFR
 
If I make a loan to a family member with a term of 10 years, do I use the long term AFR stated for the month that the loan is initiated for the entire term of the loan? In other words, since the AFR changes monthly, do I have to account for these changes somehow, or is the rate locked in at the original AFR for the entire term?

Sooner or later 12-15-2018 06:34 AM
I say it is locked for the term of the loan.

KFC911 12-15-2018 06:39 AM
Damn...never heard of this. Lots of tax cheats in my family (0 interest loans) :)

Sooner or later 12-15-2018 06:53 AM
Quote:
Originally Posted by KC911 (Post 10285039)
Damn...never heard of this. Lots of tax cheats in my family (0 interest loans) :)
I knew it was there. I just never paid attention to it...

KFC911 12-15-2018 06:54 AM
I won't either ;)


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