I'm buying my parents a house. Should we put it in their name or mine?

[johankok]

We are paying cash for the house. Who should I put the house name under

[Anonymous_]

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@johankok wrote:
We are paying cash for the house. Who should I put the house name under

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You should consult, in person, with an estate planning attorney and/or a tax professional with experience in gift and estate tax matters.

If you give a gift of more than $15,000 to any one individual in any one tax year, you are required to prepare and file a gift tax return (Form 709). 

See https://www.irs.gov/instructions/i709#idm140554828371904

Seek professional guidance.

[Critter-3]

Yes ... depending on the age of the parents among other things consulting an attorney of some kind would be wise ... state considerations may also need to be addressed. 

[Opus 17]

For income tax purposes, the only deduction will be property taxes (if you don't have a mortgage).  The property taxes can only be deducted by the person who legally owns the property AND if that person actually pays the taxes.  (So if you put the property in your parent's name but you pay the taxes, no one can deduct them.)

But as indicated by others, the taxes is a small part of the situation, there are a lot of possible complications when dealing with older parents.  You should work with an estate planner and tell them what your goal is (avoid probate, etc.) and let the estate planner tell you the best legal way to achieve the goals. 

[Anonymous]

who will be living there and who will be taking care of it including paying bills that include the mtge.  best advice see an attorney.