jmklein2
New Member

Selling rental property-I have fully depreciated the property. What would be tax implications of selling the property to my ex-wife for $1.00?

I purchased the home for about $65,000 about 35 years ago and current value is about $200,000.  I did live in the house for the 1st few years and then again a few years in between.  I ex is living in the house paying me rent but now just willing to give it to her.  Please advise.