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B
bvigil
May 2, 2020
Question

I HAD TO PAY SOMEONES WHOS NAME WAS ON THE HOUSE TITLE 35K. IS THIS TAX DEDUCTIBLE?

  • May 2, 2020
  • 1 reply
  • 0 views
CAN I DEDUCT HAVING TO PAY SOMEONE OFF TO GET THEIR NAME OFF TITLE?

1 reply

A
Anonymous
May 2, 2020

why did you need to get name off title?  what type of property - personal or rental?

 

however, most like not deductible but would add to  basis.    

 

one exception if this was alimony - not a property settlement in a divorce. 

B
bvigilAuthor
May 2, 2020

MY EXFATHERINLAWS NAME WAS ON TITLE. One of his daughters was given his share of the house by quitclaim deed. Had lawyers involved both sides. I finally just paid her to sign off the title 

B
bvigilAuthor
May 2, 2020

he passed away

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