0
Want this question answered?
Be notified when an answer is posted
Add your answer:
Earn +20 pts
Does capital gains tax apply if parent adds children to title of property?
Assuming the children did not pay for the property (whether in cash, goods, services, assumption of debt), capital gains tax does not apply. Gift tax may apply. However, when the property is sold, the children may owe a capital gains tax.
What is stratum in freehold?
A stratum in freehold is a type of title that is used when purchasing property in New Zealand. Strata means that you are buying separate units on separate levels. For example if you bought an apartment on the first floor and second floor of a building, you would receive a strata title.
What other title would you give for sedimentary rocks?
use google.com, because I don't know!
If our 25 yr old daughter is on the title to a home we don't live in can we sell in her name and avoid capital gains?
No. Also, the person buying should require you to be on & sign the deed as Grantor; otherwise, they are only buying her share. However, you could gift your share to your daughter & thus avoid capital gains tax. This might affect your lifetime exemption amount, so see an estate planning attorney for that.
What word does liabilities often have in their account title?
Capital
Which state earned the title Beer Capital?
Wisconsin is the state that has earned the title of Beer Capital. Milkwaukee, specifically, has been touted as the "Beer Capital of the World."
You inherited a house and sold it what is the tax?
I'm not an attorney, and you should get professional advice. But from my reading, you might owe a capital gains tax on any increased value of the house from the time of its purchase by the person from whom you inherited it. This would be true if you got the house through a Will. However, if that person created a trust and put the title of the house in the name of the trust, you do not owe capital gains tax on any past increase in value.
What are the neccesary of the advertisment?
the title the information and a few pictures to attract attention
What is strata title management?
Strata title was first introduced in 1961 in the state of New South Wales, Australia, to more successfully manage the legal ownership of apartment blocks. A unit title can be referred to as a strata title or stratum estate and units can either be owned in fee or leased. A stratum freehold would be a unit owned in fee. That status is also referred to stratum in freehold.Such communities are managed by a corporate body that sets forth rules, regulations, rights and obligations. There are usually monthly fees. This form of fee ownership is comparable to condominium ownership in the United States. Several other countries have adopted the Australian system.
What is the motto of Capital School District?
The motto of Capital School District is '|title = Capital School District Website'.
What is the drug capital of Canada?
BC is the capital for provinces, and as for cities, Vancouver holds that title.
Can expenditure incurred for defence of title of a capital asset be treated as capital expenditure?
Introduction expenditures
