The costs and fees associated with Alaska quitclaim deeds are minimal compared to other states. There is a state-imposed filing fee for recording deeds, and you may owe federal gift tax or capital gains tax, depending on the details of your transfer.
Filing Fees
When you record your quitclaim deed, the recording district will charge a fee for the service. Filing fees are mandated under 11 Alaska Admin. Code § 05.200, as follows:
- First page: $20.
- Second and subsequent pages: $5 each.
- Indexing fee: $2 for each name and location.
- Plat recording fee: $20 first sheet, $5 each for subsequent pages.
- Certified copies: $5 per document.
Additional fees may apply if your quitclaim deed does not meet the required standards established under 11 Alaska Admin. Code § 06.040.
Taxes
The state does not charge a stamp tax or transfer tax for real estate transfers. You may, however, be liable for federal taxes as follows:
1. U.S. Gift Tax (Form 709)
Alaska does not impose a gift tax for real property transfers, but the federal government will charge one for properties transferred without monetary consideration. In that case, the grantor must file Form 709 with their annual income taxes.
The federal government establishes monetary exemptions each year for gift tax. In addition, you may not owe gift tax if your quitclaim was to transfer property to a spouse, deed, or trust. Consider consulting with a tax professional to determine how much you may owe.
2. Capital Gains Tax
There is no capital gains tax imposed by the state, so you only have to consider it when filing your federal taxes. Capital gains refer to the amount of money the grantor earns from the real estate transfer on the quitclaim deed. Federal capital gains tax rates are based on your overall taxable income. The IRS also considers whether your net capital gain or loss is long-term or short-term.
The grantor can use Form 8949 to calculate capital gains tax and then input the amount using Schedule D (Form 1040) and file with their annual income tax.
