Your opinion on what's fair with this mortgage and tax refund

[399083453]

Originally Posted by jackmichigan

With both the U.S. and Canadian taxing authorities in play, I don't envy your situation--it's sounds too complicated and perilous to my liking.

It's unlikely they are paying the taxes properly, creating even more risk to the son. In America the IRS can go after the tax money 10 years back. Canada is another story.

[BirdieBelle]

The other thing worth clearing up in your OP is that you don't actually own a house in the US.

Legally, as you said, your son owns it, while by paying the mortgage payments you effectively pay him to let you work as property manager.

[Jkgourmet]

Originally Posted by Wmsn4Life

The other thing worth clearing up in your OP is that you don't actually own a house in the US.

Legally, as you said, your son owns it, while by paying the mortgage payments you effectively pay him to let you work as property manager.

And that "pay" isn't being claimed as income on the son's tax return, is it? Nor are the proper gift tax returns being filed.

This entire transaction is FUBAR.