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Reply to "Cosigning with child on a home mortgage - can I claim it as an investment property"
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[quote=Anonymous]For tax purposes, in order to deduct expenses the way you would for a normal investment property (i.e. To a non family member), you need to charge your family member the normal rent for the area. So if a condo rents for $1000/month, you need to be close to that number. Otherwise, the IRS will treat the residence as a personal residence and disallow any deductions other than mortgage interest subject to the limitation, and property taxes.[/quote]
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