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Get your taxes done using TurboTax
@danh123 wrote:
I thought value could go up but it went up much more than I expected.
Which basically indicates that you did not have donative intent at the time you made the deal (that and the fact that the tenant is a complete, unrelated stranger) - tough argument to make that this was a gift in any way, shape or form.
There is no one who can advise you at TurboTax so you should consult with local tax and/or legal counsel.
‎September 21, 2023
1:22 PM