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Updated almost 5 years ago,

Alejandro Arreola's profile image
Alejandro Arreola's profile image
Alejandro Arreola
  • Rental Property Investor
  • from Chicago, IL
  • Member since Aug 22, 2019
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User Stats

38
Posts
2
Votes
Alejandro Arreola's profile image
Alejandro Arreola's profile image
Alejandro Arreola
  • Rental Property Investor
  • from Chicago, IL
  • Member since Aug 22, 2019
Connect
Alejandro Arreola
  • Rental Property Investor
  • Chicago, IL
2
Votes |
38
Posts
Tax, SDIRAs & Cost Segregation

I brought my parents a house in 2019. Is that a tax deduction ?

Alejandro Arreola
  • Rental Property Investor
  • Chicago, IL
Posted

I bought my parents a house in 2019 cash I have not filed my 2019 taxes yet. The property was not a turn key property I had to do a lot of repairs. Is that 100% tax deduction on the house that I bought my parents? Does anybody know if theirs any tax benefits for my gift?

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