Father Giving Son A House

[bicool]

What is the name of your state?IL/FL

IF MY FATHER WHO LIVES IN ILLINOIS, WAS TO GIVE ME (AS A GIFT), THE HOUSE THAT HE HAS IN FLORIDA, WHERE I HAVE BEEN LIVING FO 14 YEARS PAYING PROPERTY TAX, INSURANCE, UP-KEEP AND MONTHLY RENT, WOULD WE HAVE TO PAY GIFT TAX OR ANY OTHER TAX?
THE MARKET VALUE IS $140,000.
i have had this quesrion out here for about a month and gotten no responces if you know why please tell me.

 

[BlondiePB]

What is the name of your state?IL/FL
i have had this quesrion out here for about a month and gotten no responces if you know why please tell me.

That's because the regular posters in this section do not deal with/know about tax law. Please post your question in the tax section of this forum. Let them know we sent you there so you do not get nasty messages for duplicating your post. And, turn off the caps.