No. What did you spend? Do you mean you are on the mortgage or deed? Or did you give her money to purchase a house? Or money to fix things, etc.?
Gifts given to family members, friends or other individuals are not deductible. Gifts received are not taxable to the person who received the gift, and are not entered on a tax return.
If your gift exceeds the yearly limit ($18,000 per individual)imposed by the gift tax rules, then you will need to complete a Form 709 gift tax form and send it to the IRS, although it is very unlikely that you will owe any tax.
TurboTax does not support Form 709.It is not an income tax form and would not be included as part of an income tax return.
**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**
No. If you purchased a home for your daughter or you did repairs to the home, this would be a personal expense and you would not be able to claim it as a deduction.
If your name is on the deed, then when you sell the home the cost of purchase and major renovations will be part of your cost basis and will subtract from the profit on the home.
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