My adult daughter is purchasing a home. How much financial assistance can I legally provide her without a paper trail?

My adult daughter is purchasing a home. How much financial assistance can I legally provide her without a paper trail? Asked by Hef 10 months ago Similar questions: adult daughter purchasing home financial assistance legally provide paper trail Society.

Similar questions: adult daughter purchasing home financial assistance legally provide paper trail.

That's optional in any case. Paper trail, or not income is income. You may want to consult a cpa or tax specialist.

Without more detail it's difficult to give a more specific answer.

You have two options:option 1 would be to give her a large gift, NOW, and then she would need to let it "season" in her bank account until she is ready to make the purchase. This gives her the money for the down payment, but after a few months, where it came from is not considered for the mortgage. Option 2 would be to purchase an interest in the home.

For example; you might purchase a 25% interest in the home. You would be listed as a co-owner, but there would be no other hassle. At any time in the future, she could buy out your interest in the home for either the amount you contributed, the percentage of the current market value, or any other amount you agree on.

Other than that, if you are simply slipping her some money for a payment now and then; then as long as it does not exceed the threshhold for "gift tax" then there is no paperwork - but this means she must qualify for the mortgage on her own.

I cant really gove you an answer,but what I can give you is a way to a solution, that is you have to find the anglde that you relate to or peaks your interest. A good paper is one that people get drawn into because it reaches them ln some way.As for me WW11 to me, I think of the holocaust and the effect it had on the survivors, their families and those who stood by and did nothing until it was too late.