What are the tax consequences of a quit claim deed?

Sep 09

What are the tax consequences of a quit claim deed?

Posted by taxliens

I am co-owner of a home in CA with my sister, and am attempting to turn it over to her using a quit claim deed. Are there tax consequences for me? The home was originally purchased for about 300K and is now valued around 600K.

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Post Title: What are the tax consequences of a quit claim deed?
Author: taxliens
Posted: 7th September 2009
Filed As: Tax Deed
Tags: 300k, Co Owner, Quit Claim Deed, Tax Consequences, Tax Deed, Tax Lien
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One Opinion has been expressed on “What are the tax consequences of a quit claim deed?”. What is your opinion?

towanda says:

September 7, 2009 at 11:56 am

Yes, lots.

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