I got a condo as a gift from parents can I get equity from it to put down for a house.do I have to pay taxes for the money I take out?

levoyasacar · ‎June 4, 2019

MinhT · ‎June 4, 2019

If you take out a loan based on the equity you have in your condo, you do not need to report it as income, and therefore no tax to pay.

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MinhT · ‎June 4, 2019

If you take out a loan based on the equity you have in your condo, you do not need to report it as income, and therefore no tax to pay.

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**Mark the post that answers your question by clicking on "Mark as Best Answer"

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