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Deductions & credits
Why did he gift you a house? What do you use it for? Is there a mortgage and who pays it? Who will pay the property tax in the future (including 2020)? Does grandpa have a "life estate" (the right to live there)?
Although you have nothing to report on your 2019 tax return, there are tax issues going forward.
‎January 22, 2020
4:27 AM