- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Get your taxes done using TurboTax
Got you. Thank you very much for the clarifications Geoffrey.
So in our scenario, we both have to keep filing form 709 every year. The reason we are doing this arrangement is it is tax beneficial for one of the sibling who can get the maximum deductions by paying the entire mortgage and property tax rather than splitting. Do you think it may be problematic with IRS thinking that we are doing this arrangement to get more tax benefits, though I feel we are following the rules fully.
Joint Tenancy is complicated!!
So in our scenario, we both have to keep filing form 709 every year. The reason we are doing this arrangement is it is tax beneficial for one of the sibling who can get the maximum deductions by paying the entire mortgage and property tax rather than splitting. Do you think it may be problematic with IRS thinking that we are doing this arrangement to get more tax benefits, though I feel we are following the rules fully.
Joint Tenancy is complicated!!
‎June 4, 2019
2:12 PM