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Second home purchase via HUD foreclosure
We bought a 2nd home in another state in 2019 via a HUD foreclosure through a realtor. HUD guidelines mandated it had to purchased as a 2nd home (not a rental). My daughter lives in the home & is paying the mortgage as it was much cheaper than renting. We will sign the house over to her once the 15-year mortgage is paid. Although we paid several thousand dollars to get it up to par, I don't believe I can claim anything other than taxes since it's not officially a rental. Where in TT do I claim it?
March 27, 2020
10:13 AM