Converting US Dollars to Euro

N

Newbe

Guest
I am in the process of buying my first house. I have received a loan of $15,000 cash from a family member who lives in the US. I would like to know two things:

1) are there any taxation issues that I need to know about regarding the loan?
2) what is the best way to get this money changed into Euro's?

Any advice appreciated.
 
Regarding the currency exchange, I repatriated US dollars to Euro ($100k+) within the past year, using www.xe.com. It takes a while to set up the account, but was worth it as the exchange rate was much, much better than the banks. Plus I had the joy of not using AIB, who had overcharged me in the past.

I did a fair bit of research on this method of transferring dollars, and had no problems during the three transactions I did. I seem to remember you need a US bank account; check this out yourself.

-DeliaQuad
 
If you are getting a loan then I don't believe that there are any tax implications for you.

If it is a gift then that is a different matter, and gift tax would be due, the amount of which would depend on the relationship between the donor and yourself.
 
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