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Deductions & credits
@VolvoGirl --
Since the parents co-signed for the mortgage, I don't believe their payments would be construed as a gift.
If the mortgage were only in the daughter's name, then any mortgage payments the parents made would definitely be considered a gift.
**Answers are correct to the best of my ability but do not constitute tax or legal advice.
July 20, 2023
2:55 PM