Skip to content

Let's keep in touch

Subscribe to our newsletter for timely insights and actionable tips on your real estate journey.

By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions
Followed Discussions Followed Categories Followed People Followed Locations
Tax, SDIRAs & Cost Segregation
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

User Stats

7
Posts
4
Votes
Jennifer Nesovic
4
Votes |
7
Posts

Does Gift Tax Apply or Does Lifetime Exclusion Prevail ?

Jennifer Nesovic
Posted

Hey Guys - 

Does anyone have any comprehensive Information regarding gift tax ? 

For example: if a parent wants to gift the post capital gains proceeds from a family cabin to 2 children ...Short of death, does the gift tax exclusion apply here ? I have one CPA telling me it does not and the donor must pay the gift tax on any amount over $15K annual and countless blog and other online info saying that any amount over $15K goes toward the lifetime gift tax exclusion ( currently over $11 million and soon to be reduced to $3 million) 

The parent IS NOT interested in a 1031 exchange BTW....and I will be seeking the advise of a RE Attorney...I just want to understand why it is so unclear.

Appreciate any information. 

Loading replies...