Thank you. That was my thought. Another question. Turbo tax asks if I disposed of the property, sale, gift, etc. I did dispose of my share with the warranty deed which said 'in consideration of less than $100'. So as I understand this to mean it is not a gift and I don't have to file a gift tax form. In turbo tax in the depreciation section it asks if the business was disposed of in 2022, sold, stolen, given away, destroyed.... I say yes, then there is a question for special handling, I answer no, because it is not a gift or any of the other options. Next question is for sale information, the amount received for asset sale price/expense and land sale price/expense. I left those blank because I did not receive money for deeding the house to my son. Is this correct? Thanks.
