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Old 10-09-2012, 08:06 PM
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Gift Taxes?

My Father-in-law lives in Iowa and was dating a woman and he paid off her house. Both of their names were put on the deed. She ended up convincing him to have his name taken off the deed and now it is only in her name. Is there going to be any kind of tax inplication (gift taxes) that she will be liable for? I am asuming yes but I cannot find the answer. Is he going to be responsible for anything?



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