topic Can I claim the money I spent for my daughter’s home? in Deductions & credits

Can I claim the money I spent for my daughter’s home?

senapeony — Tue, 03 Feb 2026 16:51:42 GMT

Re: Can I claim the money I spent for my daughter’s home?

xmasbaby0 — Tue, 04 Mar 2025 17:01:25 GMT

No. What did you spend? Do you mean you are on the mortgage or deed? Or did you give her money to purchase a house? Or money to fix things, etc.?

Gifts given to family members, friends or other individuals are not deductible. Gifts received are not taxable to the person who received the gift, and are not entered on a tax return.

If your gift exceeds the yearly limit ($18,000 per individual) imposed by the gift tax rules, then you will need to complete a Form 709 gift tax form and send it to the IRS, although it is very unlikely that you will owe any tax.

TurboTax does not support Form 709. It is not an income tax form and would not be included as part of an income tax return.

Here is a link to the form:

https://www.irs.gov/pub/irs-pdf/f709.pdf

https://turbotax.intuit.com/tax-tips/estates/the-gift-tax-made-simple/L5tGWVC8N

Re: Can I claim the money I spent for my daughter’s home?

Vanessa A — Tue, 04 Mar 2025 17:17:00 GMT

No. If you purchased a home for your daughter or you did repairs to the home, this would be a personal expense and you would not be able to claim it as a deduction.

If your name is on the deed, then when you sell the home the cost of purchase and major renovations will be part of your cost basis and will subtract from the profit on the home.