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If I give the house I own to my father. How much is the gift…

If I give the house...
If I give the house I own to my father. How much is the gift tax?My father is a Taiwanese.
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Answered in 2 minutes by:
3/14/2018
Carter McBride
Carter McBride, Financial Advisor
Category: Finance
Satisfied Customers: 1,314
Experience: Adjunct Professor
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Hey! I'm Carter, I'm a CPA and can help you out.

You should not need to pay any gift tax unless you have given more than well into the millions of dollars over the course of your life. However, you will still need to file a gift tax return to report the gift.

Let me know if you need anything else. If not, please leave a rating. Thanks!

Carter McBride
Carter McBride, Financial Advisor
Category: Finance
Satisfied Customers: 1,314
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