I own a house in my name only but am currently married. Can I gift equity to my stepson and daughter in law (my husband's son)?

[drmartin]

The house is appraised at $285,000 and I want to sell to them at $255,000, for a gift of equity of $30,000. The house will be their primary residence. 

[MinhT · Accepted solution]

Yes, you can make this gift of equity.

Gifts are not taxable for the recipients and not deductible for the giver.

As you are making the gift to a couple ($15.000 each), you would not have to file a gift tax return either. The gift exclusion for 2018 is $15,000 per recipient.

[drmartin]

Thanks so much for the quick response!