What are the tax implications to any parties or future tax to adding daughters name to deed on house
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What are the tax implications to any parties or future tax to adding daughters name to deed on house
She could become jointly responsible for the property taxes, at least "on paper", even if you currently pay them and plan to continue doing so. Down the road, if you were to sell the home, with your daughter's name on the deed she could also share the liability for capital gains if that becomes an issue. Is her name on the mortgage also (if there is one?) If so, she could be entitled to half the federal tax deduction for the interest.
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