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Get your taxes done using TurboTax
Just show your expenses for materials, labor, taxes, etc. like you normally do when you build other houses. If you're doing it for no profit, over two years the expenses will equal what you receive from your daughter and you will have no income from that project. It is the same as if you were in the unhappy situation where your spec house sold for so little you barely broke even.
‎June 29, 2020
5:48 PM