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Deductions & credits
It depends - any money that you gave to your daughter at closing cannot used to increase the basis in the property.
However, if you gifted money to your daughter (up to $14,000 in 2017 with no gift tax reporting) and she used this gifted money to pay closing expenses, then she would be able to increase her basis in the property for any closing costs that she paid at closing.
‎June 3, 2019
1:51 PM