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Investors & landlords
My advice is to consult an elders or real estate lawyer. there can be bad income tax consequences when the property is sold if you are on the deed.
also paying your mother's mortgage might be deemed a gift and if over $17,000 you would have to file a gift tax return. It's unlikely there would be any gift taxes just the annoyance of having to file that return which is not handled by Turbotax.
‎January 22, 2024
7:50 PM
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