An older man owned the home that he lived in. He wanted his nephew to have it after he died.
So in 2011, this man, the uncle, signed over the title deed of his home to his nephew.
Then the uncle continued to use the property as his primary residence. He paid the real estate taxes and other expenses related to the...
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the transfer of real estate -- primary residence
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Foreign Gift Tax Exclusion
I don't know if anyone has any insight into foreign gifts, but I will ask the question anyway.
I have a client who received a gift from her brother, who is a German citizen. My client wants to know if she and her husband can jointly exclude (up to $26K) of this gift from Germany. The information I have is only for domestic gift tax...