Can I pay down a mortgage after I quit claim the property to a daughter?

Can I pay down a mortgage after I quit claim the property to a child?

posted

Connect with an expert

3 Replies

Do you have an income tax question?

an if the property is worth more than $15,000 be sure to file a gift tax return

Of course you can, it's your money. Can you deduct any interest you pay on it? No, not after you no longer own it.

Still have questions?

Questions are answered within a few hours on average.

*Must create login to post

Unlock tailored help options in your account.