ftcdcr
Returning Member

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Hi,

 

Same question.  I bought a townhome last year to be used by my son while he is in college.  It's Joint Tenancy with he and I on the deed.  I paid the down payment and am co-signer on the loan.  I assume I need to fill out form 709 with the amount showing that he is gifted 50%.  When we sell I assume we can do the opposite.

 

D.R.