answersLogoWhite

0


Best Answer

The recipient of a gift doesn't incur any tax liability. The person MAKING the gift must be careful not to exceed their annual exclusion ($15,000 in 2012), to avoid their having to pay the gift tax. Proper structuring over several years can avoid much of that, but it's not your problem.

User Avatar

Wiki User

11y ago
This answer is:
User Avatar

Add your answer:

Earn +20 pts
Q: Mother and father own home and want to add me to title Will I be liable to gift tax?
Write your answer...
Submit
Still have questions?
magnify glass
imp
Related questions

Who brought a gift of honey to his father and mother .?

In Judges Samson gives honey to his mother and father.


Does the mother of the groom give her son a gift?

It is not written in stone that a mother has to give her daughter a personal gift, but some mothers may have a lovely piece of jewelry that they have had or the piece was given to the mother by her mother and she may want to pass it onto her daughter. The mother and father of bride do give a wedding gift either the day of the wedding at home or, leave the wedding gift at the reception.


What is aarons gift characters?

Aaron Carl & his gang Noreen Callahan(grandmother) Mother Father Pidge(pigeon)


What is the best gift to give your dad and mum on Father's Day and Mother's Day?

the best gift is make cards or make a movie in the computer hope i helped! ~k.s~


When was A Mother's Gift created?

A Mother's Gift was created in 2004.


How many pages does A Mother's Gift have?

A Mother's Gift has 240 pages.


Should you capitalize mom in this sentence I bought a gift for mom on her birthday last year?

Yes. Anytime you use a title (like "mom") in place of a name, it should be capitalized. I gave Mom a gift. (Instead of: I gave Sue a gift.) I gave my mom a gift. I asked Mother a question. (Instead of: I asked Susan a question.) I asked my mother a question.


What are the major and minor character in aarons gift?

*Aaron *Carl & his gang *Noreen Callahan(grandmother) *Mother *Father *Pidge(pigeon)


Who was the original owner of the silver hair combs Bella Swan got as a wedding gift?

The hair combs belonged to her grandma Swan (her father's mother).


What did Dr. Seuss parnets work?

Dr. Seuss's parents worked in the brewery business. His father was a brewmaster and his mother managed the brewery's gift shop.


Does the mother of the bride buy a gift for the mother of the groom?

No


How can send flowers and gift for father's day to Ahemdabad?

for father's day gift and flowers sending with help with blossomsquare.com