I read that attribution rule doesn’t apply once a transferor becomes a NR. So I assume if a resident borrows money from NR related persons (NR spouse or NR parent), the attribution rule doesn’t apply and no interest payment is needed. Am I correct?
I read that attribution rule doesn’t apply once a transferor becomes a NR. So I assume if a resident borrows money from NR related persons (NR spouse or NR parent), the attribution rule doesn’t apply and no interest payment is needed. Am I correct?