gifting a house to my daughter

0 inheritance tax. I think stamp duty at something like 1% may apply though.

If you paid less than €170,000 for the house, there will be a capital gains tax liability, which (ignoring the annual allowance of €1,270 or €2,540 - the anount depends on whether it's owned by you or you and your wife jointly) will be 33% of the difference between the cost and the value on the date of the gift.

Professional fees buying and selling and auctioneer fees on purchase, stamp duty on purchase

The above costs might offset most of that gain for CGT

A valuation.

@Xander10 is referring to what costs are allowed in the CGT calculation.

Please see here:

https://www.revenue.ie/en/gains-gifts-and-inheritance/transfering-an-asset/what-do-you-pay-cgt-on.aspx

Step one might be to firmly assess if formally gifting her the property at this point is the best way forward, having regard to her present circumstances, her level of maturity, future risks arising etc. As suggested above an arrangement whereby she live rent free in the house can sometimes be a better arrangement.

If you do decide to transfer the ownership, there should be very little tax liability - other than 1% stamp duty. In the circumstances you should get a professional valuation, it might only be worth the same as you paid a few years ago, and if so that puts any CGT to bed.

As mentioned above the house value will serve to reduce her GroupA tax free threshold which will arise if you decide to gift her more assets in the future or after you die. It makes sense for it to be as low as reasonably possible. Was it flooded last year, never repaired and now actually half wrecked or anything?

But will she be able to afford to maintain it, especially once you are gone and she is older? There's some very sad cases of older people living in poor conditions.

There's a thread here which is similar - thought different inheritance tax rates apply.

I think with the price of the house being around 170k now it would be wise choice to gift it with little or no Cgt and still have good chunk of inheritance threshold intact for future. As the house price increase liabilities and losses will increase too in this case. I am not sure but I think once daughter takes the deeds, the house will become her primary residence and she won't be liable to cgt for future increases. Open to correction for this though.