Avoiding Gift Tax

[davestax08]

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?

[Anonymous_ · Accepted solution]

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