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I have a question. My mother gifted me her house about 10…

Hi there i have...

Hi there i have a question. My mother gifted me her house about 10 years ago but didn't file a 709 form. I am wanting to gift the house to my sister inlaw. How do i go about and do this?

Accountant's Assistant: The Accountant will know how to help. Is there anything else the Accountant should be aware of?

I think that just about sums up my situation

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3/8/2018
TaxRobin
TaxRobin, Senior Advisor
Category: Finance
Satisfied Customers: 17,623
Experience: 15 years of experience in financial advising with emphasis on tax issues.
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Hello, I'm Robin. Welcome to JustAnswer. I'm reviewing your question now and typing up my reply. I'll post that in just a few moments.

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If your mother is still alive she can file that now. You can still gift the house to someone though. You will need to file form 709 for this gift even if your mother had filed correctly in the past.

Please let me know if you need more information.
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Customer reply replied 1 month ago
she can file the 709 after all this time? and if i gift it now then i will do a 709 at this time as well?

Yes. If the house is valued at more than $15000 (new amount for 2018) you must file the 709.

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What else did you need to know?

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Customer reply replied 1 month ago
i requested for a phone for a little more clarification because i know nothing about tax and stuff.
When do you think you'll be available to give me a call?

Any call offer is site generated

Another expert may pick up your request but I am not able to .

TaxRobin
TaxRobin, Senior Advisor
Category: Finance
Satisfied Customers: 17,623
Experience: 15 years of experience in financial advising with emphasis on tax issues.
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Customer reply replied 1 month ago
Ok thanks for your time Robin

You are most welcome.

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NPVAdvisor
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Are you still interested in a phone consultation? If so, I can call you now if you'd like to discuss your question more fully.

Steve G.

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