Skip to main content
February 21, 2025
Question

Gifted a home

  • February 21, 2025
  • 1 reply
  • 0 views

My mom gifted me her mobile home in 2024.  She still rents it out but my name is on the title alone.  I don't have any income from the home and I don't take any of the rent.  The taxes are very little and I pay them.  This is located in MT where I live.  Can I deduct anything from this?  It is 100% paid for and it's a mobile home from 1970's.  My brother owns the land outright it's located on and doesn't charge any rent or fees for the home on the land

    1 reply

    February 21, 2025

    if the gift was in 2024 and the value of the MH was more than $18,000, you mother should file a gift tax return

     

    the taxes would be deductible if you itemize your deductions subject to the cap on taxes on schedule A