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QUESTION DETAIL
Related User
Votes
If I give my house to my children while I'm alive and continue to live in it, what are the income/Inheritance Tax issues for them?
ANSWER
The BIDaWIZ Team's Answer:
Your lifetime gift tax exemption amount is $1M. Thus, if the total value
of the house, and other money, and property, that you give them, is less
than $1M, no gift, or estate, tax will be imposed on the gift.
