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

dacede — Tue, 04 Jun 2019 21:13:52 GMT

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?

Fortunately, the transfer of property is not a taxable ev...

PatriciaV — Tue, 04 Jun 2019 21:13:54 GMT

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).

topic How do I report turning a home over to my daughter for a nominal $100.00? in Deductions & credits

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

Fortunately, the transfer of property is not a taxable ev...