The Family Bank: Parents Are Lending Their Kids Mortgage Money at Rates the IRS Itself Publishes, and No One Owes Gift Tax on the Discount.
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The post The Family Bank: Parents Are Lending Their Kids Mortgage Money at Rates the IRS Itself Publishes, and No One Owes Gift Tax on the Discount. appeared first on 24/7 Wall St..
If you own a home with equity, a taxable brokerage account, or a bond ladder that your adult kid cannot afford to touch, the IRS quietly publishes a mortgage rate every month that only your family can actually use. It is called the Applicable Federal Rate, and lending your child a down payment or even a full hou
If you own a home with equity, a taxable brokerage account, or a bond ladder that your adult kid cannot afford to touch, the IRS quietly publishes a mortgage rate every month that only your family can actually use. It is called the Applicable Federal Rate, and lending your child a down payment or even a full hou
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