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Accounting: What is taxable when purchasing Real Estate, if the money came from someone else $500k?
JM
JM
Josh Maher, Author, Investor, and Advisor answered:

That is a really ambiguous question - if someone gave you money, it really doesn't matter what you did with it. The money they gave you needs to follow tax laws related to gifting. If you invested that money and made a profit, you need to pay capital gains on your profits unless you have done something to off-set or delay paying those taxes.

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