DaveF1006
Expert Alumni

Get your taxes done using TurboTax

Since this is uncharted territory concerning the IRS, I would consider consulting a real estate attorney so that the laws of your state can be properly applied. At this point, this becomes more of a legal matter and opinion rather than a tax matter.  I only say this because there isn't any IRS precedence for this type situation and this is where my advice must end. 

 

[ Edited 01/18/22|04:36 PM PST]

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