MarylanG1 I understand the basis issues. However, it seems clear that selling property for substantially less than its market value is a gift to the recipient and is subject to gift tax for the difference between the price paid and the fair market value. Your link did not dispute that point, from what I could see. I would really like to be wrong because that would simplify this whole process for me and the OP. Please prove me wrong, I sincerely want you to.
