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Deductions & credits
If your Uncle sold a home that he alone owned then he is the one that needs to report the sale and pay the taxes if he had a profit. You & your dad living in the home is immaterial to you.
From the sale he made you a GIFT (no matter where the money came from) which is not deductible to him or taxable to you.
‎August 23, 2021
11:51 AM