Lend money to your spouse (7) A higher-income spouse or partner can lend money to a lower-earning spouse or partner in order to invest. There must be a promissory note that includes the federal prescribed interest rate. Your spouse would report the investment income. The annual interest is claimed as a tax deduction. The higher earning spouse would pay tax on the interest income that you receive in that calendar year.
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These tips are very interesting. Some things I didn’t know & I will be helping my folks on how to better handle their pensions. Thanks John McCormack!