Real Estate Transfer Tax Question
I have taken ownership of my fathers house after he passed by a Decree of Descent signed off by the probate judge in Kansas, but I haven’t deeded it in my name yet and don’t know if I need too. The question is: since I was his executor can I quick claim the house to my spouse as a heir transfer as his daughter in law without triggering a federal tax? I already know there is no state tax involved if I do that. If so, how much is it, or how do I do the transfer without a tax issue? We plan to fix up and flip the house as well, so hopefully there will be write off’s.
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