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If you give a piece of real property to someone as a gift can you claim that on your taxes?
Wiki User
∙ 14y ago
Gifts, other than to a qualified charity, are NEVER deductible...no way no how. In fact, the one giving may incurr a "gift tax" that is their obligation to pay.
Wiki User
∙ 14y ago
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If your mother lives on your property and pays your taxes on agreement can they claim homesteading and possess the property?
No because you own the property and you would be the that one that should be paying the property taxes.
Can you claim plumbing repair expenses on your taxes on a rental property?
Yes. You claim income that you receive in addition to expenses like repairs, insurance, property taxes, depreciation, etc. This is the case with me assuming that you are the owner of property that you rent to others and not rental property where you are the tenant.
Can your parents claim you on their taxes if you claim one?
no, once you claim someone you cannot be claimed yourself
Can you buy a house and someone else claim it on their taxes?
no
How do you claim a non related dependent on your taxes?
If they aren't a qualified child or a qualified relative, as defined, you can't claim them.
Can someone claim you on they taxes if you have Medicaid?
You should report having a dependant in the home.
Is it possible to claim your property taxes if making below 10000.00?
Sure. If you itemize you can claim your full property taxes. And this is new for 2008: If you don't itemize, you can claim $500 of property taxes ($1000 if married filing jointly). See the instructions for line 40 of 2008 Form 1040.
What can you write off your taxes for an investment property?
I assume you mean property taxes. Yes, you can claim an itemized deduction on Schedule A.
If your mother lives on your property and pays your taxes on agreement can they claim homesteading and possess the property?
No because you own the property and you would be the that one that should be paying the property taxes.
Can you claim plumbing repair expenses on your taxes on a rental property?
Yes. You claim income that you receive in addition to expenses like repairs, insurance, property taxes, depreciation, etc. This is the case with me assuming that you are the owner of property that you rent to others and not rental property where you are the tenant.
if a person haven't paid taxes on a peice of property for over six years can someone else catch up the taxes and claim the property?
Depending on the specific laws in the jurisdiction where the property is located, it may be possible for someone to pay off the back taxes and potentially claim the property through a process known as adverse possession. However, the requirements and conditions for adverse possession vary widely by location, and seeking legal advice is crucial in such situations to understand the options available.
Can your parents claim you on their taxes if you claim one?
no, once you claim someone you cannot be claimed yourself
If I pay someone elses property taxes does the property become mine?
No, paying someone else's property taxes does not automatically mean that you own the property. Property ownership is determined by the legal title and deed, not by paying taxes on behalf of someone else.
Can you buy a house and someone else claim it on their taxes?
no
How do you claim a non related dependent on your taxes?
If they aren't a qualified child or a qualified relative, as defined, you can't claim them.
What are state tax liens and why are they important?
Taxes levied on a homeowner for their property to secure the payment of taxes. A tax lien may be imposed for delinquent taxes owed on property, or as a result of someone not paying their taxes. They are important, because you want to keep your house and property, and not get it seized. Tax liens are issued when the IRS decides to claim your assets as their own in lieu of you paying your income taxes. Tax liens can take your real property, empty your bank accounts, and seize your paychecks.
In most states and m?
In most states and most cases, the payment of property taxes, in and of itself, does not have bearing on the question of property ownership. It is possible that a co-owner of real estate paying property taxes over the course of years would have a claim against the other co-owner, but that only goes to a monetary claim for the taxes...not the joint ownership which it sounds as though was clearly established via a quit claim deed.h
