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Financial Planning / Tax Strategies


Subject:  Home Purchase and Lease Date:  12/10/2000  11:00 AM
Author:  chromeman Number:  42715 of 127613

My mother (over 65 widow) is thinking of moving into a smaller house.
She will sell her current home (under 200K) so from what I read there will be no capital gains on the sale.
Is there any tax advantage for my sisters and I to buy the new house and lease it to her at a market rate.
We would also provide the maintance,lawncare and snow removal.
Would we need to form a partnership of some sort or just do it as individual owners one third each.

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