Re: Parents - life estate in my name. This year they opt to sale home. Title company had them sign away their interest - all proceeds to me.What are my tax implications?
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Parents - life estate in my name. This year they opt to sale home. Title company had them sign away their interest - all proceeds to me.
What are my tax implications?
Parents - life estate in my name. This year they opt to sale home. Title company had them sign away their interest - all proceeds to me.
What are my tax implications?
your parents put the title to their house in a life estate for you and the remainder to them? That's backwards because it's the parents who should have the life estate......parents don't outlive their kids most often. You need a tax pro.
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