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buying from a parent

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H

hwolf

Guest
I am a single Wisconsin mother who damaged her credit. I need to purchase a home, but cannot at this time. My father is willing to help me. If he purchased a second home and I rented from him with the stipulation that when I could, I would buy the home from him(3 to 5 yrs), how would he be taxed on the sale? Is this our best option? Would capital gains taxes eat away too much profit for him not to lose on the deal?
 



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