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Gifting a home - Hypothetical

*This was deleted by a spam bot in the tax sub, not sure if not acceptable or by accident*

Myself and a friend enter into a verbal agreement to help fix up two SFH. Instead of an hourly wage or salary, I 'gift' my friend the second home after both are completed. Both properties after completion are owned by myself. I also paid for every aspect of both renovations.

-What are the tax implications of that?

-Should that person be an employee?

-Assuming both parties are completely onboard and in agreement with every detail, what outside forces could jeopardize this agreement?

Thx for your time

submitted by /u/PurposeMission9355
[link] [comments]

source https://www.reddit.com/r/RealEstate/comments/z5e0ii/gifting_a_home_hypothetical/
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