TaxAudit Blog

Tag: estate tax

House sitting on money

Your son does not need to report or pay tax on the $70,000 you gifted him from the inheritance your wife received from her mother’s probate! Let's explore more.

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Vacant Land For Sale

You can "deduct" real estate taxes paid over the course of owning a piece of land in the year the land is sold, if the land was vacant, but there is a catch.

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House prices going up

The reality is you can sell your house to your child, grandchild, or anyone else for that matter, for $1. But just because you can doesn’t mean you should.

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