Borrowing private money from a Canadian

[Patrick Menefee]

Hey all,

I have someone in Canada who wants to put some money to work. I’ve used private money a couple of times, what are the differences on his end and mine when putting everything together? I understand from my CPA that on my end my deductions and everything will be the same, but is anyone familiar with the documentation requirements? I imagine it’s not as simple as issuing him a 1099 at the end of the year…

TIA!