Posted on: 09th Jan, 2010 02:37 pm
Will tax have to be paid if deeded out of love and affection
there is no exclusion for deeds made out of love and affection
excise tax for property related transaction?
excise tax for property related transaction?
Welcome shazam,
If it's a gift transfer, then you'll be responsible for the gift taxes. However, there are certain exemptions as well in this regard. To know about it, check out the given page:
http://www.mortgagefit.com/gift.html#111114
If it's a gift transfer, then you'll be responsible for the gift taxes. However, there are certain exemptions as well in this regard. To know about it, check out the given page:
http://www.mortgagefit.com/gift.html#111114