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Real Estate Housing Helping Child Buy a House
If you are thinking big for junior’s holiday gift – as in big down payment on a home, there is good news. Along with the warm and fuzzy feelings parents will get, there is also a tax advantage.
IRS allows an annual gift of $13,000 to anyone without paying a gift tax. Therefore, a married couple can give four times the amount that is up $52,000 to their child or spouse tax-free. With the extended and expanded home buyer tax credit, and once in a lifetime low interest rates this might be the best time to help children buy their house.
CLICK HERE to get more details on things to consider in providing help to children with down payment to purchase their house.
This is a blog post for Real Estate Professionals, Investors, Landlord, Property Manager, and Property Management Companies. Tips on How to Help Your Child Buy a House with a Gifted Down Payment is brought to you by SimplifyEm Pay Rent Online and Property Management SoftwareYou might also want to read:
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