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I am about to purchase a home with my mother. I understand
I am about to purchase a home with my mother. I understand there is an annual as well as lifetime gift limit. For tax purposes, is it better that we own the home jointly, or that she make a gift to me… read more
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Tricky question; should be simple answer for someone with the right knowledge. … read more
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Assume a U.S. citizen has a joint account (Tenants by
Assume a U.S. citizen has a joint account (Tenants by Entirety) with his wife. She is a NON-U.S. citizen. If the 2017 gift tax exclusion is 149k for gifts to non-U.S. spouses, at what point will a gif… read more
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Will I need to pay extra tax for an inter-spouse transfer?
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Merlo, My wife is a NRA and I am a US citizen. We are
Hi Merlo, My wife is a NRA and I am a US citizen. We are currently residing overseas but plan to move back stateside next year. My wife has overseas savings of over 1m USD and our plan is to use a par… read more
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All of our money was held in my wife's trust. She sold her
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I understand that if my spouse is a U.S. citizen and a gift
I understand that if my spouse is a U.S. citizen and a gift of a "present interest" is made, the gift is tax free. I want to understand if, in the following scenario, the gift is still tax free. My fi… read more
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Hello, My wife is a UK citizen and a US resident, I am a US
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My mother a senior american citizen had to travel overseas
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Do I owe taxes on "Gifts" received...? Situation: In 2009
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Reg: Earlier sbject(Same apartment We are four owners of the coop we now plan to sell. It was purchased 21 years ago in four names - two non-resident aliens (W-8 persons) - me and my wife - and two ci… read more
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My mother put her house in my name 20 years ago (19007, Pa.)
My mother put her house in my name 20 years ago (19007, Pa.) to be held in trust for my sister (Not good with money). Our Mother has passed. and my Sister now wishes to sell and has a buyer. She has p… read more
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My mother-in-law is now a widow and will be selling property
My mother-in-law is now a widow and will be selling property in Russia to come live with us in the U.S. I understand that she will have no U.S. tax obligations for the proceeds of her sale because she… read more
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I bought a house 14 years ago and put in my daughter''s name due to close of a business, I have been living in it and have paid all payments, taxes, insurance, etc. She married six years ago and my wi… read more
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My wife and I are retired and moved from New York to Tennesee in May of 2007. In December we bought a new house in TN for $295,000. We sold our old home in New York For a Gift of Equity of 162,000 bas… read more
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Australian citizen, who is an American resident with a green card, sold her home in Australia and has paid the necessary Australian taxes on the sale. She now wish to payoff an existing mortgage on he… read more
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