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Category Archives: United States
Transfer/Purchase of home ownership, with no tax implications to “seller”?
Candice asked: My grandparents bought a home in 1993 for my parents in cash, no open mortgage. Home is in grandparents name. My parents are divorced and my mom lived in it for 10+ years until January when she passed … Continue reading
Posted in United States
Tagged 100k, Back Taxes, Grandfathers, Grandmother, Grandparents, Home Ownership, Inheritance, Marriage, Mom, Mortgage Home Equity, Open Mortgage, Parents, Tax Accounting, Tax Credit, Tax Implications
4 Comments
Claiming mortgage interest after divorce?
J S asked: Divorce was final on 12-13-07 but mediation agreement was signed and binding in August 07. We owned two houses and both are still in our name. The mediation agreement gives one house to me and one to … Continue reading
Can I use interest from home equity loan on a schedule E if 100% of the funds went to purchasing a 2nd home?
xredhat88 asked: I want to buy an investment property I found for $50K. If I take out a home equity loan and use 100% of the money borrowed to buy an investment property can I list the interest I pay … Continue reading