I own a house. My son lives with my wife and me. I derive no income- tax benefit to deducting the real estate taxes. Rather than pay rent, I've asked him to pay the real estate taxes. Can he deduct the real estate taxes on his income tax? If not, what can I do so that he can? The house is worth about $250k, can I gift (or sell) him a 4% stake in the house so that he is now a partial owner? He's going to inherit the house when we die anyway.
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