In 2019, I made a payment to a friend to officially assume the primary property that we bought together a few years ago. Is that payment deductible? House was also sold
Announcements
Do you have a TurboTax Online account?
We'll help you get started or pick up where you left off.
In 2019, I made a payment to a friend to officially assume the primary property that we bought together a few years ago. Is that payment deductible? House was also sold
In 2019, I made a payment to a friend to officially assume the primary property that we bought together a few years ago. Is that payment deductible? House was also sold
No, that payment is not deductible. Your basis or cost to you was increased by the amount of the payment given.