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Reply to "Question for those of you whose parents helped with a home purchase"
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[quote=Anonymous]My parents did this. On the first house it was a loan that I paid back to them with market rate interest, and the second house it was a gift (their idea). But I recall that there may be tax implications if you are paying back with interest that is lower than market rate. Check this with a CPA first -- it might be that at 0% IRS would require you to pay taxes on it since you aren't paying market rate interest. [/quote]
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