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Financial Planning / Tax Strategies


Subject:  Re: question Date:  7/6/2016  11:14 AM
Author:  ptheland Number:  124336 of 132875

can i avoid the taxes on the interest by gifting him the interest money on a yearly basis


Even if he made no payments at all, you'd still have to deal with imputed interest on the loan at a prescribed interest rate similar to the rate stated in your mortgage.

The only way to eliminate interest income on your return would be to eliminate the loan itself - to make a gift of the entire mortgage.

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