Hello! I bought a house 2 years ago for my parents and they pay me each month to cover the mortgage/taxes/insurance. It falls well under what they can "gift" to me and I am not making any money on it so I have never messed with it as far as taxes are concerned. I put a sizable down payment on it so that their expenses would stay low. My desire is to sell it to them for what's left on the mortgage so that they can begin to build their own equity, as they have next to nothing for retirement. That means selling it at a significant loss to me. Can that loss be used to offset capital gains on my taxes?
