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Inheritance tax question

  • 05-07-2020 12:39pm
    #1
    Registered Users Posts: 1,289 ✭✭✭


    Hi, I am hoping someone can help me. This is more of a general question but I haven't been able to find the answer online.

    My sibling received a gift of land and a house from our parents worth 100k about 8 years ago.

    Now I am to receive a house from them worth 320k, my question is does the first gift of 100k mean that the gift limit has been reached already so I would receive 220 and have to pay tax on the other 100k?

    I'm not sure if I am explaining this very clearly.


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