Anonymous
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Deductions & credits
Thank you for your advice! Yes my sister will be filing the gift tax.
A few local CPAs that I have talked to said the same - the depreciation deduction needs to be recaptured (though I still need to talk to them further in order to understand what recapture means).
I will talk with the CPA for further details and numbers.
‎October 12, 2021
12:31 AM