Re: the deal with taxes when lending money

[http://dummy.us.eu.org/robert (Robert)]

 > From: http://dummy.us.eu.org/robert (Robert)
 > Date: Tue, 14 Mar 2017 20:52:40 -0700
 >
 > So, I agreed to lend $50K to mom and dad.
 > 
 > Do you remember what the deal with taxes are when it's no longer a "gift"?
 > I assume that there has to be a contract and the interest has to be
 > documented.  Is there a minimum interest that needs to be charged, or
 > anything like that?

To answer my own question: the answer is "yes", according to
http://www.marketwatch.com/story/how-to-lend-money-to-a-relative-without-getting-whacked-by-the-irs-2015-05-12 .
In fact, dad and I were talking about a 7-year loan, which means that it
fits into the "mid-term" interest rate, which, this month, is 2.03% .
(With the fed raising interest rates, I'm guessing this will go up.)