Welcome back! Ask questions, get answers, and join our large community of tax professionals.
  • Products
  • Workflow Tools
  • Learn & Support
  • Sign In
  • Products
  • Workflow Tools
  • Contact Us
  • Sign In
  • Learn & Support
    • Created with Sketch. In preparation for the 4/15 deadline, see our most popular resources. ProSeries Hot Topics.
    Created with Sketch. In preparation for the 4/15 deadline, see our most popular resources. ProSeries Hot Topics.
    cancel
    Turn on suggestions
    Auto-suggest helps you quickly narrow down your search results by suggesting possible matches as you type.
    Showing results for 
    Search instead for 
    Did you mean: 

    second home property transferred via quitclaim to relative

    dperhogan
    Level 3
    ‎06-01-2022 07:08 PM

    Can someone transfer ownership via quitclaim to relative with no tax consequences?  Property is second home purchased with cash.  Owner wants nothing in return.

    0 Cheers

    This discussion has been locked. No new contributions can be made. You may start a new discussion here

    1 Comment 1
    Just-Lisa-Now-
    Level 15
    Level 15
    ‎06-01-2022 07:19 PM
    You can give away a house.
    A gift tax return is probably in order.
    And the basis for the new owner would be the basis of the "seller".

    ♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪






    Intuit Lacerte Tax
    Intuit ProConnect Tax
    Intuit ProSeries Tax
    Additional Accounting Solutions
    Tax Pro Center
    Tax Practice Resources
    Call sales: 844-877-9422
    Sitemap

    ©1997-2025 Intuit, Inc. All rights reserved.

    Intuit, QuickBooks, QB, TurboTax, and Mint are registered trademarks of Intuit, Inc. Terms and conditions, features, support, pricing and service options subject to change without notice.

    By accessing and using this page you agree to the Terms and Conditions.

    About Cookies | Manage Cookies
    Legal Privacy Security