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How can the parents be involved with paying tax? Wouldn't they have a loss which, -although is not deductible on a primary or second home - is for a rental property. So if they file an amended for the year the rental income was received and pay their income tax on that, - if there was in fact any gain over their costs, then it seems this whole discussion should revolve around the recipient of the gift's value, not the parents
‎June 7, 2019
2:56 PM