What You'll Learn
According to the National Association of REALTORS® (NAR), 23% of those 37 and younger used a gift and 6% used a loan from family or friends to purchase their home. There are various ways parents can help out through gifting, lending, co-signing or buying a house with your child.…
According to the National Association of REALTORS® (NAR), 23% of those 37 and younger used a gift and 6% used a loan from family or friends to purchase their home. There are various ways parents can help out through gifting, lending, co-signing or buying a house with your child. Parents who help out are giving their kids an average of $39,000 to buy a home.
Join senior loan officers Chris Brady and Noah Patterson for this CE-eligible session to learn the pros and cons of the various strategies and the implications each has for mortgage financing. CPA Larry Pon will also provide insights on the tax reporting reporting requirements for each approach, to include what's required for gift tax reporting purposed with form 709.
Attendees will learn:
- The pros and cons of the common ways to help a child buy a home
- The IRS reporting requirements for gifting
*CE/CPE Eligible: 1 CE credits are available to subscribers with these designations: CFP, CLU, ChFC and RICP. CPA subscribers will earn 1 CPE credit
Field of Study: Specialized Knowledge
Prerequisites: There are no prerequisites for this session.
Advanced Preparation: None
Program Level: Basic
Delivery Method: Group Internet Based
NASBA Approved
Financial Experts Network (Sponsor Id#: 145173) is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org.