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This would be considered a gift to your son.
A gift of over $14,000 (does not have to be cash, can be a home) in 2017, requires a Gift tax return.
A gift return can be filed (without having to pay tax) using up part of the Estate tax exemption.
I would consult with an Estate tax expert.
This would be considered a gift to your son.
A gift of over $14,000 (does not have to be cash, can be a home) in 2017, requires a Gift tax return.
A gift return can be filed (without having to pay tax) using up part of the Estate tax exemption.
I would consult with an Estate tax expert.
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