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Do we owe tax on the sale of our parents’ home?

Do we owe tax on the sale of our parents’ home?

By Ilyce Glink| 2023-05-20T16:21:55-05:00 May 15th, 2023|

Do we owe tax on the sale of our parents' home? Paying tax on the sale of your parents' home can be costly if you don't plan ahead. Q: My parents gave their house to their children but continued to live in it and pay all expenses related to the home. Life happened, and my [...]

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Gifting a House to a Relative

Gifting a House to a Relative

By Ilyce Glink| 2022-09-18T10:59:25-05:00 December 10th, 2012|

Gifting a house to a relative will affect your income tax and real estate property tax. Know the consequences of gifting vs. inheriting. Q: I thought you might have said on your radio show that you didn't advise giving a home away. My uncle is thinking of giving me an old house, but I didn't [...]