Some years ago my mother gifted me joint ownership of her house. Upon her death I assumed full ownership and it has been rented ever since.
At the time of gifting, the property was valued, and was within the then Revenue threshold for mother - son gifts, and no money was involved.
I am now considering selling it and am looking at the CGT implications of doing so.
In this regard, is there is a 'cost', based on the gift transfer value that can now be used to minimise my CGT liability?
At the time of gifting, the property was valued, and was within the then Revenue threshold for mother - son gifts, and no money was involved.
I am now considering selling it and am looking at the CGT implications of doing so.
In this regard, is there is a 'cost', based on the gift transfer value that can now be used to minimise my CGT liability?