08-22-2006, 05:27 PM
Slashmire Wrote:However, I would guess that legally, you...would have to declare it as a "gift" to the IRS and all....maybe charge him a penny or so.
Not unless it's worth $11,000.

And, Grace, it is possible to do that for houses.
http://www.irs.gov/newsroom/article/0,,i...15,00.html