Thanks for your answer.
I am a German citizen and the property is in Germany.
The German tax law allows to gift EUR 400k per parent (EUR 800k total) every 10 years tax free to any child.
Housing prices have appreciated a lot, so it's wise to start asset transfer early. I don't file taxes in Germany as I live in the US. The EUR 800k doesn't apply to me, I guess.
Will I have to pay taxes on the gains in the US if I decide to sell the property?
I live in Oregon, isn't there a tax on assets gifted more than $1mio? Could I be gifted the $1mio in consecutive years or is there also something like a 10 year rule?
Thanks!
M
