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Posted By: Stephanie Tran on 12/27/2016
My house is paid off. Want to deed the title to my son.
Does anyone know if my son would be subject to 'any tax' in this case? Thanks.
 
Replies:

1. Posted By: Neva Briggs On: 12/27/2016
There are transfer tax exemptions for most family related transfers. For any other taxes, like income tax, you would want to discuss with an accountant.

2. Posted By: Steve Spencer On: 12/28/2016
Your answer is explained at this web site:
http://www.elderlawanswers.com/giving-your-home-to-your-children-can-have-tax-consequences-9667

3. Posted By: Stephanie Tran On: 12/28/2016
Thank you Steve for the link to the elderlawanswers.com site. It's very useful.

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