Christian F. asked
We financed the purchase of a home for our daughter in 2009, and our son has been residing in the home for the last 2.5 years. We are now getting ready to sell the house. Can I quit claim the house to my son and avoid capital gains tax since he has been residing in the home for 2.5 years? The home was never an investment property, and our children are the only ones that have lived in the home. We reside in Indiana.
October 22nd, 2024
Cheryl S. answered
Yes, you can quit claim the house to your son to potentially avoid capital gains tax. Since your son...
October 22nd, 2024
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