There are various ways parents can help out through gifting, lending, co-signing or buying a house with your child. Listen in as senior loan officers Chris Brady and Noah Patterson give the pros and cons of the various strategies and the implications each has for mortgage financing. CPA Larry Pon also provided insights on the tax reporting reporting requirements for each approach, to include what's required for gift tax reporting purposed with form 709.
08.11.2022 - Gift Tax
Ways to Help Child Buy a Home & Gift Tax Reporting Requirements
Presented by Larry Pon, CPA and Noah Patterson