Let me try to be more clear. These transactions are complete and I need to know how to report.
My daughter had no home so I deeded her mine in exchange for her agreeing to buy me the moble home for $333,000 (no mortgage) and paying $700/mo to me toward the lot rent.
The FMV of my old home was $670,000. I'll have to research to see what the cost basis was if needed.
This is obviously a good deal for her because I wanted to help her out. She's not selling the house but for future reference I wanted to know her basis in my old home.
Thanks again.
