- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Life Estate, partial ownership
In 1996, my parents created a life estate and gifted their house to me. Their accountants also filed gift tax returns for IRS and the state for that year.
My mother still lives in the house and my father passed away. At this point, for IRS, what percentage of the house is owned by my mother, and what percentage by me? Since gift taxes were paid, it might appear that the gift was completed.
Topics:
‎February 23, 2022
6:02 AM