Equitable home ownership
Child bought condo with parents help. Both names are on the deed. Child made the downpayment. Both were on the Purchase and Sale. However, the parents took out a home equity loan on their own house to give her funds for the purchase. The child's name is not on the loan. The child pays all the loan payments directly to their bank.
Can this child deduct the interest and taxes paid on their return?
Thank you
