real estate






 

Question by  MrsBethy (16)

Can you swap houses without tax consequences?

My parents and I want to swap houses. Our house is too small; theirs is too big for theme.

 
+7

Answer by  eatwrite (1559)

You can sign over the deed and title to someone at anytime. The tax problem comes in if it is a sale or if you sell it.

 
+7

Answer by  AnnaTeague (806)

Are the houses of roughly equal value? The tax consequences should not be too bad because, even if you sell a house, you have several months in which to use the proceeds to purchase another house before you get taxed on any profit. Consult a CPA before structuring the deal.

 
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