Legal Question in Real Estate Law in Florida

If my parents gift me their home how will that affect my taxes?


Asked on 8/06/15, 11:17 am

1 Answer from Attorneys
Barry Stein De Cardenas, Freixas, Stein & Zachary

Your personal income taxes? Not at all. On their side it will. They have a unified gift/estate tax credit and if the value is more than the yearly limit, they will need to file appropriate tax returns. You need to seek some advice from an attorney and an accountant to make sure what impact it will have on both parties

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Answered on 8/06/15, 12:17 pm


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