Asked by Bob Scheidleman, New Hartford, NY • Mon Jan 19, 2009
my daughter is renting a house from me. I either need to sell the house or gift it to her and let her get a mortgage . which way would be more of a tax advantage for me. there is no mortgage on this house. i took a equity loan on my 1st home to buy the house and used my credit cards to fix it up. the house cost 46,000.00 - 30,000.00 repairs - market valve approx. 140,000.00.
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