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Author: pbpapa One star, 50 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 121482  
Subject: Re: Gifting or Selling a house Date: 12/11/2001 2:57 PM
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To qualify for head of household, the qualifying person must be a dependent, not necessarily your child. If your parents file jointl, neither can qualify you, but if your mother filed "married filing separately", your father could qualify you as head of household if he has little or no income and you indeed pay for more than have his support.

As for transferring the house to you, (as my sister always used to say to me) why would they want to do that? If you inheirit it, your basis becomes the market value at the time of the last to pass on. Whereas if they give it to you, your basis is their basis at the time of the gift. And they don't have to deal with a gift tax return.
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