Welcome Guest. Register Now!  


For 2012 Tax Tips For Year 2012.


Reply
 
LinkBack Thread Tools Search this Thread Display Modes
  #1 (permalink)  
Old 10-09-2012, 08:06 PM
Junior Member
 
Join Date: Oct 2012
Posts: 2
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?



Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!Reddit! stumble!bookmark in google!Share on Facebook!
Reply With Quote
Ads
Reply



Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

vB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Gift Taxes? sarge4u Homeowner Tax 2 12-20-2012 01:16 PM
Stock Gift jjjones4180 S-Corporation 1 09-14-2012 10:11 PM
stock as a gift abbottstownkid Miscellaneous 2 04-10-2012 11:43 AM
Federal Gift Tax kfuchslin Estate Planning 0 02-16-2010 03:33 PM
gift tax exclusion Rich Mort Estate Planning 0 01-04-2009 06:57 PM

Follow us on Facebook Follow us on Twitter Google Buzz Rss Feeds

» Categories
 
Individual
 » Income
 » IRA/Sep
 » Medical
 
Corporations
 » Payroll
 
Forum for CPAs
 
Financial Planning
 
 
 

» Recent Tax Q&A
No Threads to Display.