If my parents want to buy a investment property in our name, will that affect our tax return?
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If my parents want to buy a investment property in our name, will that affect our tax return?
by mathilda555 Wed Aug 17, 2011 2:57 pm
my parents live in a different country and want to buy a investment home in the USA. They would like to purchase it in our name(me and my wife's). I was wondering if anybody knows if that will change the amount of tax return we will receive at the end of the year. We both made around $110,000 combined,the same from last year and expect the same return. But will this investment property thats paid in cash($300,000) affect our return?
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