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Joint Tenancy, IRS Form 709, and Property Tax Deductions

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Latest post Mon, Feb 6 2017 1:48 PM by Drew. 15 replies.
  • Mon, Feb 6 2017 1:48 PM In reply to

    • Drew
      Consumer
    • Top 10 Contributor
    • Joined on Thu, Mar 30 2000
    • PA
    • Posts 51,431

    Re: Joint Tenancy, IRS Form 709, and Property Tax Deductions

    Mom can insist you were pink striped T shirts in the house...but you have no legal duty to pay gas, water , and so forth .....

    And if Mom requires public sector care like Medicaid then a gift of her ownership share now  is not a sure fire way that won't get collected ....

    NO you might be smart to make sure your interest is insured, the property is maintained, bills are paid etc.....but that's not a singular legal duty on your shoulders .....

     



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