She has always paid the mortgage and taxes I have never paid any money. Upon purchase she did not qualify so I signed. Will I be taxed for doing changing the deed to her.
You and your daughter should review the specific facts with attorneys to see what the legal options may be.
Depending on the specific facts, perhaps there is an exemption form real estate excise tax under WAC 458-61A-214 (Nominee).
If there is no mortgage on the property and if there is not enough documentation for the exemption under WAC 458-61A-214 (Nominee), perhaps an exemption can be claimed under WAC 458-61A-201 (Gifts). A lot more documents, possibly including a gift tax return, may need to be filed.
You and the daughter should talk with attorneys so that all the facts are known to the attorneys to properly advise you two.
If there is no mortgage debt remaining due at the time of the deed from you to her, there will not be a real estate sales tax [aka "excise"] due. The applicable exemption is 458-61A-201. However, if there is remaining debt, there will be a tax due upon the amount of that debt. It really doesn't matter that she has been paying it. The presumption is that she is paying your debt.
The nominee exception suggested in a prior answer will not be accepted by the Dept. of Revenue. Seems logical, but the circumstance allowed by that exception is different.
I cannot help you with Federal gift tax consequences. Talk with a tax professional, because that is totally dependent upon your personal financial data.
There is no attorney-client relationship established between me and other persons who may post a question or answer. My opinions are without investigation of the facts, based on presumptions. My opinions may not be relied upon as the opinion of my employer or used against the company in a claim.
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