Are you planning on buying the property yourself or are you providing funds to help them purchase? Are you co-signing a loan or are you providing funds directly? How you you plan to help your kids will affect you differently in terms of taxes. I highly recommend you speak with your CPA to determine how each scenario would affect you regarding your taxes. Without having a full picture of your current situation and exactly how you plan on assisting your kids, it is difficult to answer your question.
I do recommend getting in touch with a CPA to help run the different scenarios for you based on the type of assistance you plan on providing.
I hope that helps!
Alain Pinel Realtors
DRE # 01715440
That is a great question for a tax account. As a Realtor we can not give tax advice. If you are interested in buying a home please check my website http://www.joyelliott.com...I specialize in Hayward Hills, San Leandro, Castro Valley, Oakland and parts of the San Ramon Valley. I would be pleased to help you.
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