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My Dad sent me the money he received from a cash-out refinance for safekeeping. Are there any tax implications?
My Dad sent me the money he received from a cash-out refinance for safekeeping. Are there any tax implications? My Dad needs to get some work done on his house and wanted cash on hand if he needed to hire someone quickly (plumbing-related). He decided to have this cash available by doing a cash-out refinance on his house. He is not great with money and wired me the $19,000 he pulled out of his house to park in my HYSA for safekeeping until he needs it. I...
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