Legal Question in Real Estate Law in Nevada
Gift tax
If my 92 year old Dad sells his home and want to split the proceeds with my brother & me, how much can he give us and do we have to pay taxes? Thank you
Asked on 8/21/08, 7:06 pm
1 Answer from Attorneys
James Smith
James E. Smith Ltd.
Re: Gift tax
You would not have to pay taxes, but your dad can only give $11,000 per person a year without before he is subject to gift tax which is paid by the donor.
Answered on 8/21/08, 7:32 pm
Related Questions & Answers
Looking for something else?
10,200 active attorneys ready to answer your legal questions today.
Featured Attorneys
Earn additional revenue and grow your business.
