Personal Finance (Not Investing) • Can my partner loan me money?

I have a substantial expense coming up that will be short term. I have taxable investments, but don’t want to sell them nor do I want to borrow on margin. My future wife has extra cash sitting in a money market at the moment. Could she legally loan me money for ~90 days? Would this cause any issues with taxes? Would it be best for her to write me a check or for her to transfer the money into our joint account and then I transfer it out?

I’m asking because I know some banks don’t like when large amounts of money are deposited via check, and also, making sure that this wouldn’t cause any red flags with the IRS since I am going to pay her back in a few months. If too complicated I could sell some VT. Amount is $50k ish.

If you have a joint account who cares? You both own the account and you can do with that money as you wish. It sounds like she wishes to pay your bill. Later perhaps she will want to do something else with the money in the account, like buy stocks

This.

So even as unmarried, she can move money into the account and I can spend it?

Statistics: Posted by muffins14 — Sun Aug 25, 2024 7:24 pm — Replies 20 — Views 1984