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House deed in my name. Parent paid in full for the home. How do I report that when I do my taxes?
Hello!
I'm hoping someone can help. In early 2024 my mother wanted to purchase a home but wanted the deed to be in my name as she is getting older and don't want me or my brother to go through the hassle of more paperwork when she passed. So the house deed is in my name but she wired the money for the home out of her bank account. This is not my primary home as I live 2 hours away from her. How do I file this property on my taxes? Just not sure how to get the information right as the money wasn't mine. Any help and guidance would be appreciated. Thank you.
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‎January 24, 2025
3:26 PM