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Updated over 1 year ago,
receiving a house as a gift...
Hello,
My mom received a house through an inheritance last year. She now wants to transfer that house to me as a gift.
What kind of tax issues should I be concerned with in terms of receiving such a gift. The house is in bad shape and we have gut renovated it but havent started the rehab yet. Should I get it appraised before starting the gut? What kind of professional should I speak to for advice.
Thx!