My uncle wants to gift a piece of property in the USA that apparently is worth about $8,000 to my sister and I. We are both Canadian citizens living in the US as permanent residents. Just curious how this would work? Are there a lot of fees/taxes etc? We do simple taxes and do not own any other properties etc. Anyone know the rules etc, or anything we would need to know. Thanks so much!

  • When you say "property", what do you mean exactly - real estate? Maybe a car that is sitting on a parking lot in the US? This will impact where the transaction might be taxable. – Grade 'Eh' Bacon Apr 29 at 13:13
  • Yes sorry it is a piece of land. – Mandy Apr 29 at 13:55
  • Anyone have any knowledge? I need to give him an answer but I have no clue about this stuff? :) – Mandy Apr 30 at 20:11
  • Has anyone been in this situation before? Please help!!!! Where would I even go to ask this information? – Mandy May 2 at 19:04
  • What state is the property located in? This could impact local taxes & fees on transfer. In general, Canada doesn't tax gifts received or given; the US taxes the giver of gifts, but there are annual and lifetime exemptions which should allow this to be tax free. I am not familiar enoug to get sources for a soiid answer. Your big issue will be local transfer elements. Googleour state's finance departments for info. – Grade 'Eh' Bacon May 3 at 12:36

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