Will we have to pay gift or estate taxes? Posted on August 02, 2010
My mother transferred her house to me a few years ago. We used a quitclaim lead. Will we have to pay any sort of gift taxes on the equity in the home if she passes away? My mother still owes about $80,500 on the mortgage. And we have invested a lot of money fixing up the house. Is there a better way of going about this?
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