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Reply to "husband wants to buy house with his parents"
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[quote=Anonymous][quote=Anonymous]It's better to inherit the house when they die, because you get the stepped up cost basis. Does he not know that? I don't see how this is a good idea at all. [/quote] +10000! This is a tax disaster. And +10000 that you will have to pay taxes on the rental income. Why on earth would you do this?!?! If you and your DH want to invest in real estate, invest in a real estate fund that is diversified. Not some random thing selected by your ILs.[/quote]
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