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Rather than gifting, we purchased an interest in the property by providing the 20% down (about $60,000 plus closing costs) and going on the deed as 20% interest holders.

The risk in this approach is that you are now at risk for the entire mortgage should something happen to your daughter.

Responding to previous posters, be careful about using the full $15000 gift limit as there is a slim chance it will revert to $14000 due to the new tax law (TCJA). All inflation indexed amounts need to be recalculated using the chained-CPI. The IRS has begun issuing announcements about which amounts are changing and which are remaining at the previously released 2018 levels, but I don't know whether they've addressed the annual gift limit yet.

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