Welcome back! Ask questions, get answers, and join our large community of tax professionals.
- Topics
- Training
- Community
- Product Help
- Industry Discussions
- User Groups
- Discover
- Resources
Turn on suggestions
Auto-suggest helps you quickly narrow down your search results by suggesting possible matches as you type.
Showing results for
- Intuit Accountants Community
- :
- ProSeries Tax
- :
- ProSeries Tax Discussions
- :
- second home property transferred via quitclaim to relative
second home property transferred via quitclaim to relative
Options
- Mark Topic as New
- Mark Topic as Read
- Float this Topic for Current User
- Bookmark
- Subscribe
- Printer Friendly Page
dperhogan
Level 2
06-01-2022
07:08 PM
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
Can someone transfer ownership via quitclaim to relative with no tax consequences? Property is second home purchased with cash. Owner wants nothing in return.
Labels
1 Comment 1
Just-Lisa-Now-
Level 15
06-01-2022
07:19 PM
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
You can give away a house.
A gift tax return is probably in order.
And the basis for the new owner would be the basis of the "seller".
♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪
A gift tax return is probably in order.
And the basis for the new owner would be the basis of the "seller".
♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪
