topic Gift taxes in Get your taxes done using TurboTax

Gift taxes

cpwallacetaxes — Wed, 11 Feb 2026 07:10:45 GMT

If both my husband and I are the Deed to our full time AZ home, but he is not on the Mortgage, if he pays it off is that considered a gift and would we need to pay taxes on the amount of the payoff. Seems ridiculous but I am getting conflicting information on Google.

Thank you

Re: Gift taxes

Anonymous_ — Wed, 24 Apr 2024 18:00:59 GMT

See https://www.irs.gov/instructions/i709#en_US_2023_publink16784xd0e1553

Re: Gift taxes

cpwallacetaxes — Wed, 24 Apr 2024 18:22:19 GMT

I can not read and understand what was sent.

A simple yes or no would be helpful. If he pays off bank mortgage in my name only although he is on deed, do we have taxes to pay on the amount?

too old to understand the long read sent.

Re: Gift taxes

Anonymous_ — Wed, 24 Apr 2024 18:35:39 GMT

@cpwallacetaxes wrote:
A simple yes or no would be helpful. If he pays off bank mortgage in my name only although he is on deed, do we have taxes to pay on the amount?

No.