Dear Liz: My wife and I have purchased a few properties over the years and now we would like to give these properties to our children. I’ve read that the best way to gift properties is to wait until ...

But what many don’t realize is that gifting property, or even the cash to buy it, can come with unexpected tax consequences. Under federal law, certain gifts might be subject to the gift tax, and if ...

When a parent gifts their property to a son, daughter, son-in-law or daughter-in-law, the transaction isn’t subject to income tax in the hands of the recipient under Section 56(2)(x) of the Income Tax ...