Posted on: 11th Apr, 2011 08:10 am
Three sisters involved. Two are quitclaiming to a third sister . Is there a tax benefit to the third sister if done within a year of their father's death. Also is there anything to be aware of? Thanks, Wayne
Hi wayne!
Welcome to forums!
If the two sisters are quit-claiming the property as a gift, then they will be liable for paying the gift taxes. As far as the tax benefits for the 3rd sister is concerned, you need to contact a CPA for that purpose. The CPA will be able to help you in a better way.
Feel free to ask if you've further queries.
Sussane
Welcome to forums!
If the two sisters are quit-claiming the property as a gift, then they will be liable for paying the gift taxes. As far as the tax benefits for the 3rd sister is concerned, you need to contact a CPA for that purpose. The CPA will be able to help you in a better way.
Feel free to ask if you've further queries.
Sussane