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Tax on capital gain of gift
My mother lived in her own house, owned a condo and rented it out to some people. She also claimed depreciation on the condo throughout the years of her ownership. The condo actually went up in value.
Last year, she gave the condo to me as a gift. Beside the possible gift tax liability as donor, does she have to pay tax on the capital gain of the condo?
Last year, she gave the condo to me as a gift. Beside the possible gift tax liability as donor, does she have to pay tax on the capital gain of the condo?
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‎June 4, 2019
3:16 PM