Switch my grandmas house into my name?

[Anthony Salerno]

Myself and my sister are looking to fix my grandmas house and sell it. We’re just not sure whether or not it would be more beneficial to switch it into our names first and then fix and sell, Or fix it up and sell it in my grandmas name and have the proceeds go to us. Grandma paid 45k about 8 years ago and after renovation the sale price should be about 100-120. Any help?

[Scott Mac]

Hi Anthony,

It seems like this is a tax question best answered by a CPA who knows your personal tax situation and your grandma's personal tax situation.

Wrong moves could cost you profits.

You might want to talk to a local CPA and see what they say.

Just a thought.

Good Luck!