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You would need to fill out a gift tax form. While you will not actually have to pay the tax, you will still need to file the Form 709. Read the information in the following links for a more in-depth explanation. You would have to download the form from the IRS.
http://www.elderlawanswers.com/giving-your-home-to-your-children-can-have-tax-consequences-9667
You would need to fill out a gift tax form. While you will not actually have to pay the tax, you will still need to file the Form 709. Read the information in the following links for a more in-depth explanation. You would have to download the form from the IRS.
http://www.elderlawanswers.com/giving-your-home-to-your-children-can-have-tax-consequences-9667
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