Quit claim deed
I want to add my wife to the home title using quitclaim deed . The house price in zillow shows approx $500000 Does adding spouse trigger gift tax and capital gain tax obligation? would it impact future sale of the house?
I want to add my wife to the home title using quitclaim deed . The house price in zillow shows approx $500000 Does adding spouse trigger gift tax and capital gain tax obligation? would it impact future sale of the house?
Expert Reviewed
Transfer of ownership to a spouse is not a taxable event and no tax reporting is required. There is no effect on a subsequent sale.
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