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davestax08
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Avoiding Gift Tax

I would like to give my daughter $100K to purchase a house in both of our names.  In 2 years can I transfer the mortgage completely to her without her incurring any tax?

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Accepted Solutions

Avoiding Gift Tax

If your gift to your daughter exceeds the annual exclusion of $16,000, then a gift tax return is required to be filed.

 

See https://www.irs.gov/instructions/i709#en_US_2021_publink16784xd0e314

 

However, you will have no gift tax liability unless (and until) you exceed your lifetime exemption of $12 million.

 

See https://www.irs.gov/businesses/small-businesses-self-employed/estate-tax

 

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1 Reply

Avoiding Gift Tax

If your gift to your daughter exceeds the annual exclusion of $16,000, then a gift tax return is required to be filed.

 

See https://www.irs.gov/instructions/i709#en_US_2021_publink16784xd0e314

 

However, you will have no gift tax liability unless (and until) you exceed your lifetime exemption of $12 million.

 

See https://www.irs.gov/businesses/small-businesses-self-employed/estate-tax

 

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