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If cosigner pays part of down payment is it considered a gift? And does it affect tax returns for either party?

by ssandj471 from Spring, Texas. Feb 26th 2022 Reply


Joe Metzler (JoeMetzler)
#17 ranked lender in Minnesota - 4,848 contributions

Not really understanding what you are getting at, but all applicants on a loan are equal in the lender eyes, so if the down payment money came from one of their own asset accounts, it isn't a "gift" FOR the LOAN PURPOSES. For taxes, you would each claim 1/2.

Mar 2nd 2022
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