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I have a tax question related to the sale of a primary home.
I have a tax question related to the sale of a primary home … read more
Lev
Lev
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I and my son sold a condo who can file the taxes it was a
I and my son sold a condo who can file the taxes it was a rental … read more
Rick
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We paid for a piece of land that is in our sons name.we
we paid for a piece of land that is in our sons name.we would like to know (tax wise) the best way to have it put in our name.quick claim?deed transfer? if we do quick claim does he have to report it … read more
Alexander Efros
Alexander Efros
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I have a two part question. Question One: My mother no
Question One: My mother no longer resides in the home she owns and she does not file a tax return due to her income level. If I, as her son, am added to the deed to the house would that allow me to deduct the property tax paid on the home providing I am the one who makes the payment? … read more
Lev
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Thank you for your quick response. If I Quit Claim Deed a
Thank you for your quick response. If I Quit Claim Deed a condo that is in my name to my son, does he have to pay any taxes on this? And will it cause him to lose hie SSIDisability benefits? … read more
Matthew Breecher
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When a parent transfers the deed to a rental property home
When a parent transfers the deed to a rental property home to their son (age 20), is this considered a sale of the rental property on the parent's tax return? If so, what is considered to be the proce… read more
Robin D.
Robin D.
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Vocational, Technical or Trade School
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My son is buying a house in Alabama and I will be paying the
My son is buying a house in Alabama and I will be paying the down payment of $60,000. If I make the check payable to the bank but am not on the loan but am on the deed (if that's permissible), will th… read more
Lev
Lev
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Bachelor's Degree Equivalent
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I have a question regarding gift taxes for foreign spouses. My
I have a question regarding gift taxes for foreign spouses. My parents are Canadian Citizens and nonresident aliens to the U.S. In March, my father bought a new house in San Jose. He is listed as the … read more
socrateaser
socrateaser
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OK good morning. Three questions. Question #1 I am in the
OK good morning. Three questions. Question #1: I am in the process of buying a condo and placing it in my name. I am paying all the closing costs for which my son will reimburse. My son has offered to… read more
Jax Tax
Jax Tax
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Dear Sirs,I am an American citizen and live in Brazil.
Dear Sirs, I am an American citizen and live in Brazil. I intend to buy a property in Miami for my son worth usd250,000,00 (who is also Brazilian/American) and give it to my son as a gift this year. Q… read more
Robin D.
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My father plans for purchase a house in the United States for
My father plans for purchase a house in the United States for myself and my sister, he plans to make a cash purchase and would like to know if there's tax implications for him and me+my sister if the … read more
Lev
Lev
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I currently have a small balance on a mortguage in my name
I currently have a small balance on a mortguage in my name only on a property in Florida. I live in MA.I am single never married. I want to add my sister to avoid probate if something should happen to… read more
Merlo
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Thank you for your previous answer. Load off my mind. Next
Thank you for your previous answer. Load off my mind. Next question - curiosity. From the wording regarding my partner buying a home and receiveing the first time buyers tax credit, I am being added t… read more
Ed Johnson
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1) Mother, Daughter and Son have purchased a home that ...
1) Mother, Daughter and Son have purchased a home that Mother lives in for $300,000. Mother pays $200,000, Son and Daughter each pays $50,000. The home is titled as Joint tenants with rights of surviv… read more
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I would like to have my sons name put on my residential property ...
I would like to have my son's name put on the deed to my property but have been told he would have to pay a large amount in gift taxes. My prperty taxes are only $209 per year. I do not know what othe… read more
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Do I have to pay capital gains on a refinance where I ...
Do I have to pay capital gains on a refinance where I am deeding myself off. It is currently Me on the deed of my investment property. I want to add my son. Refinance the property. Deed myself off. Do… read more
Zhicheng Lai
Zhicheng Lai
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We are transferring partial interest (60%) in a residential ...
We are transferring partial interest (60%) in a residential property (PUD) from our older son to ourselves, and we are transferring our partial interest (40%) to our younger son. Does our 40% grant de… read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
40,783 satisfied customers
topic tax implications of quitclaiming deed to non spouse
Topic: tax implications of quitclaiming deed to non spouse relative (son) because son couldn't qualify for loan himself. Is this a taxable gift? If the loan is still under the fathers name, but the so… read more
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