Inheritance Tax vs Capital Gains on Holiday Home | Dublin News

If you’re gifting your daughter your vacation home while you’re still alive, she’ll dodge capital gains tax—but you’ll owe it on the profit you’ve made. But if she inherits it after you pass, no CGT hits her. Still, inheritance tax looms: she can take up to $400,000 tax-free from both parents, but anything over that gets hit with 33%. And if she’s living in your main home, inheriting the holiday spot might mess with her dwelling house exemption. Bottom line: inheritance tax is the real concern now, but later, if she sells, she’ll pay CGT based on the value when she inherited it. Listen in comfort:Get a discount on a Soli Pillow: http://solipillow.com/discount/dnn Advertise on DNN:[email protected] This is an automated, high-level news summary based on public reporting.Report issues to [email protected]. View sources & latest updates:https://sources.thednn.ai/a24f6a183539248b