dacede
New Member

How do I report turning a home over to my daughter for a nominal $100.00?

I purchased a foreclosure 9 years ago for my daughter to live in rent free and signed it over for $100.00.  How do I file this?

PatriciaV
Employee Tax Expert

Deductions & credits

Fortunately, the transfer of property is not a taxable event. You should, however, file a Quit Claim Deed with the county to document the change in ownership. But you do not need to include this transaction on your tax return (nor does your daughter).

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

View solution in original post