The goal is for the parents to transfer the home to their daughter. The parents live elswhere and were considering moving back to the house for retirement. They no longer want to retire to the house and are not in need of the home sale proceeds and therefore would like to provide their daughter with a house as she is currently renting. If the parents sell the house to the daughter, they have an income tax liability. If the parents give the house to the daughter, they have a gift tax liability, although their unified credit may mean that there's no gift tax actually paid. Since the parents ought to do some estate planning, or revise previous plans since their retirement location has changed, I suggest consulting an estate planner with this.Phil Marti
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