by cooker on March 26th, 2007

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Parents bought me a house that I have lived in and paid rent for 4 years. The house was a rental to them for tax help. House is now in my name (oct 06) and down payment was a gift. I am now selling the house and will make a profit.Will I pay capital gains

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by notquitered on April 8th, 2008
Depends on how long you have lived in the house and how it came to be in your name now.
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You're reading Parents bought me a house that I have lived in and paid rent for 4 years. The house was a rental to them for tax help. House is now in my name (oct 06) and down payment was a gift. I am now selling the house and will make a profit.Will I pay capital gains

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Parents bought me a house that I have lived in and paid rent for 4 years. The house was a rental to them for tax help. House is now in my name (oct 06) and down payment was a gift. I am now selling the house and will make a profit.Will I pay capital gains

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Parents bought me a house that I have lived in and paid rent for 4 years. The house was a rental to them for tax help. House is now in my name (oct 06) and down payment was a gift. I am now selling the house and will make a profit.Will I pay capital gains

Answers. 1 helpful answer below.

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