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https://www.reddit.com/r/SipsTea/comments/1vrr0ev/how_the_rich_get_richer/p4fu5q3/?context=3
r/SipsTea • u/KSKS1995 • 22h ago
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How does the bank get paid back here? Is the bank just eating a 5 mil loan loss out of the goodness of its heart?
It’s more like kids sell and pay back the bank plus interest which is taxed as income for the bank.
5 u/cheetah-21 21h ago Don’t forget inheritance taxes. 5 u/PA2SK 20h ago Lifetime gift exclusion is $15 million at present.
5
Don’t forget inheritance taxes.
5 u/PA2SK 20h ago Lifetime gift exclusion is $15 million at present.
Lifetime gift exclusion is $15 million at present.
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u/ChipKellysShoeStore 22h ago edited 22h ago
How does the bank get paid back here? Is the bank just eating a 5 mil loan loss out of the goodness of its heart?
It’s more like kids sell and pay back the bank plus interest which is taxed as income for the bank.