My daughter's credit is currently bad due to a divorce. My wife and I bought a condo in our name that she is living in. Mortgage and title are in our name. She lives there and pay's for everything. Once her credit is restored we are going to sell it to her or put her on the title and let her refiance it in her name. In the meantime how do we treat this for tax purposes? Do we treat it like a rental and take depreciation, expenses etc. Can we treat it as a second home (It is in the same town we live in) and deduct interest property tax etc. Thanks in advance for your help
2007-02-03
06:29:36
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3 answers
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asked by
Anonymous
in
Business & Finance
➔ Taxes
➔ United States