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-   -   If I give a deeded Manhattan timeshare to someone, do I have to pay gift tax? (https://www.askmehelpdesk.com/showthread.php?t=264810)

  • Sep 29, 2008, 06:07 AM
    1g2t3o
    If I give a deeded Manhattan timeshare to someone, do I have to pay gift tax?
    I want to give a Manhattan Club timeshare to a friend. I know the transfer of the deed needs to be registered in Manhattan. Do I need to notify any other governmental agency? Do either of us have to pay any tax?
  • Sep 29, 2008, 06:12 AM
    ScottGem

    If the value of the property exceeds $12K there may be gift tax due on your part.

    I'm not sure, how you would appraise the value of a timeshare though.

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