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If you help your kids buy a house, do you owe taxes when they sell it later?
Q: For three years, our daughter and son-in-law lived in and paid all related expenses for a home we purchased together. They recently sold the home. Could you tell us how we can report this on our federal tax return? If not, can you tell us where we can get more information?
A: As home prices have skyrocketed over the past five years, young ...Read more
Advice for timeshare owners who wish to sell
It has been a cold winter in much of the country. Snow in Jacksonville, Florida, anyone? Around this time of year, we normally get a bunch of questions about timeshares. If you’re considering one, you’ll want to read our response to these two questions before you go to the so-called “free” lunch.
Q: Our timeshare is paid for. We don’t...Read more
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