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<p>[QUOTE=&quot;calcol, post: 3244730, member: 77639&quot;]Perhaps under the laws of some states.&nbsp; For Federal tax purposes, the house would be considered a taxable gift.&nbsp; Its current value minus the $14K gifts-to-children exemption would be considered as taxable income to your child.&nbsp; And it would be taxed as ordinary income, not a capital gain.&nbsp; Depending on circumstances, it&#039;s often better to let your children inherit rather than giving them a taxable gift while you are still alive.</p><p><br /></p><p>Cal[/QUOTE]</p><p><br /></p>

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