Message Font: Serif | Sans-Serif
No. of Recommendations: 0
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.

Print the post  


In accordance with IRS Circular 230, you cannot use the contents of any post on The Motley Fool's message boards to avoid tax-related penalties under the Internal Revenue Code or applicable state or local tax law provisions.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.