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Quitclaim Deed Transfer

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Nathaniel Ferrell Guest	Posted: Mon Aug 23, 2010 2:53 pm    Post subject: Quitclaim Deed Transfer Like 0 Dislike 0 My mother has a home in Maryland. 1. If my mother tranfers the title of her house to me via Quitclaim Deed, will there be any reprocussions or penalties from Medicare or Medicade? 2. After the transfer will be responsible for federal, state, local taxes on the home; and can I deduct those on my taxes?
smithsussane Joined: 18 Sep 2008 Posts: 10030 Location: Alaska 919.49 Dollars($)	Posted: Mon Aug 23, 2010 8:53 pm    Post subject: Like 0 Dislike 0 Hi Nathaniel! Welcome to forums! Medicaid has a look-back period of 5 years. Your mother might not be able to get Medicaid benefits for the next 5 years after the property transfer. As far as I know, you would be able to deduct property taxes when you pay your federal taxes. Feel free to ask if you've further queries. Sussane

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