topic 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? in Retirement tax questions https://ttlc.intuit.com/community/retirement/discussion/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/01/434273#M39643 Tue, 04 Jun 2019 21:58:01 GMT levoyasacar 2019-06-04T21:58:01Z 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? https://ttlc.intuit.com/community/retirement/discussion/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/01/434273#M39643 Tue, 04 Jun 2019 21:58:01 GMT https://ttlc.intuit.com/community/retirement/discussion/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/01/434273#M39643 levoyasacar 2019-06-04T21:58:01Z If you take out a loan based on the equity you have in yo... https://ttlc.intuit.com/community/retirement/discussion/if-you-take-out-a-loan-based-on-the-equity-you-have-in-yo/01/434279#M39646 <P>If you take out a <U>loan based on the equity</U> you have in your condo, you <U>do not need to report it as income</U>, and therefore no tax to pay.<BR /></P> Tue, 04 Jun 2019 21:58:03 GMT https://ttlc.intuit.com/community/retirement/discussion/if-you-take-out-a-loan-based-on-the-equity-you-have-in-yo/01/434279#M39646 MinhT 2019-06-04T21:58:03Z