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    1g2t3o's Avatar
    1g2t3o Posts: 1, Reputation: 1
    New Member
    		  
    #1

    Sep 29, 2008, 06:07 AM
    If I give a deeded Manhattan timeshare to someone, do I have to pay gift tax?
    I want to give a Manhattan Club timeshare to a friend. I know the transfer of the deed needs to be registered in Manhattan. Do I need to notify any other governmental agency? Do either of us have to pay any tax?
    ScottGem's Avatar
    ScottGem Posts: 64,966, Reputation: 6056
    Computer Expert and Renaissance Man
    		  
    #2

    Sep 29, 2008, 06:12 AM

    If the value of the property exceeds $12K there may be gift tax due on your part.

    I'm not sure, how you would appraise the value of a timeshare though.
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