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Updated about 15 years ago, 10/02/2009

User Stats

3
Posts
0
Votes
Harry Tran
  • Property Manager
0
Votes |
3
Posts

Quit Claim and Lifetime Gift tax

Harry Tran
  • Property Manager
Posted

If anyone can provide some info it would be kindly appreciated. My Uncle wants to quit claim one of his properties to me. The property has been paid off and he is basically gifting it to me. Would he be able to claim this against his lifetime gift tax credit? If so would there be any kind of taxes due?

Thanks

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