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Down Payment for Home Purchase has been paid as Lease with Option for 10 years?
I have an agreement for a home purchase as lease with option with 100% of payments going towards down payment for house. The owner & I are ready to close since I have paid for home entirely. I have been told that I will have to show IRS where the down payment came from over the last 10 years in the next tax year. I have filed taxes every year and can certainly justify that I have had discretionary cash each month to pay towards something. Am I going to raise a huge red flag because I am showing equal down payment and purchase price for this house?
Public Comments
- i could see that you are in deep s@@@!. i wish that you have paperworks or documents that will support your claim here. and i wish that you have extra money to be able to hire and attorney because it is really what you needed now. oh by the way, hire an attorney that is handling and have expertise in housing - like, a real estate attorney. don't hire a criminal lawyer, okey?
