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Deductions & credits
He does live in the house and he paid for half the down payment but it was paid to me and then I paid the full payment. I'm not sure if that changes things or if it's just semantics.
If we do not add him to the deed, would I need to pay income tax on his portion of mortgage or would he need to pay a gift tax on that portion?
If we do not add him to the deed, would I need to pay income tax on his portion of mortgage or would he need to pay a gift tax on that portion?
‎June 6, 2019
6:36 AM