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Financial Planning / Tax Strategies


Subject:  Re: Rent-to-own, of sorts Date:  3/19/2014  3:52 PM
Author:  ptheland Number:  120510 of 128111

Could it be as simple as explained above?

Apparently, yes.

Are there tax implications, both pertaining to how the income has been reported to this point ...?


... and to what happens when the house is actually conveyed to the son?

Yes again.

Without anything in writing, to me it sounds like several years of rent followed by a gift.

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