Posted on: 13th Jun, 2012 05:25 pm
My Mother and purchased a house in Kentucky 1 year ago as joint tenenats. She wants to quit claim the house to me. If she does will I have to pay any taxes.
Hi jan!
Welcome to forums!
If your mother quitclaims the property to you as a gift, then she will be liable for paying the gift taxes. You won't be liable for paying that tax.
Feel free to ask if you've further queries.
Sussane
Welcome to forums!
If your mother quitclaims the property to you as a gift, then she will be liable for paying the gift taxes. You won't be liable for paying that tax.
Feel free to ask if you've further queries.
Sussane
Hi jan,
You can contact a tax adviser and he will be able to let you know about the taxes in details, if any.
Thanks
You can contact a tax adviser and he will be able to let you know about the taxes in details, if any.
Thanks