repofauntie
Junior Member
What is the name of your state?
Can I buy my child a house and not require rent to be paid? Is this considered a gift? If it is a gift under IRS rules and the total of the gift (rent/taxes/utilities or anything else I might pay for) stays within the gift amount (that being 12K a year or even 24K if my spouse gifts it too) is this arrangement legit as far as IRS?
Can I buy my child a house and not require rent to be paid? Is this considered a gift? If it is a gift under IRS rules and the total of the gift (rent/taxes/utilities or anything else I might pay for) stays within the gift amount (that being 12K a year or even 24K if my spouse gifts it too) is this arrangement legit as far as IRS?