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income taxes

income taxes

how do income taxes come intro effect on quit claim deed transfers?


rjparnow1's picture
rjparnow1
12-12-2011

5 Answers
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1
Property received has to be disclosed in order to calculate income taxes. As per the IRS 2009 rule, any gift worth over $13,000 has to come under gift tax. There are also several issues related to transfer taxes. You muct consult a tax professional in order to get to know about the tax implications of the quit claim deed.

Anonymous | Asked on 2011-12-14


1
You can check out the tax implications of the quitclaim deed from the given page: "http://homeguides.sfgate.com/tax-implications-quitclaim-deed-6771.html&q...

adonis | Asked on 2012-02-09


1
To get idea on tax implications of a quit claim deed, go through this forum discussion- http://www.mortgagefit.com/discuss/quitclaim-taximplications.html

scot.davis | Asked on 2013-01-07


1
To get idea on tax implications of a quit claim deed, go through this forum discussion- http://www.mortgagefit.com/discuss/quitclaim-taximplications.html

scot.davis | Asked on 2013-01-07


1
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Anonymous | Asked on 2015-06-08

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