gift-tax exclusion

Tax Consequences Of Selling Or Giving Your Home To Your Children

Many parents consider and assume that one of their children will succeed them in living in the family residence. Of course, this place may be the house in which the child grew up and spent a considerable amount of time. To return to such a place can be very special. But what in fact are the tax consequences of such an event? What happens if the parents wait until death? What if they want to make an outright gift of the property? Perhaps they wish to make a sale at a bargain price? What if they make a more traditional sale that involves financing?

Testimonials

Categories