Hi, I am looking to try to figure this scenario out. I am about to purchase a condo in the Midwest, And my father overseas in Europe has offered to pay for it . If I have him simply wire me the money and use that money to pay for the condo, well he or I be subject to taxes here in the United States?
He does not care if he is on the deed, he will never likely live in the states, only just visit on occasion. Would appreciate any help! I don?t want to get whacked with a bunch of taxes!