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Investors & landlords
I gifted (quitclaim for $10) unimproved land to my niece. The part that asks if I disposed of property indicates NOT to check box if disposition was to family. A couple screens later is screen for non depreciable property (unimproved land). The assets page for that only shows blanks for sale of asset. I have read not to put '0' in the sale box. Do I ignore the assset section? How do I show I no longer have the property? I will file form 709, but that appears to be a totally separate issue. Do I just ignore/delete the information that will be carried over to 2023 turbo tax? I inherited the land from my parents and am passing it on to their granddaughter, no money involved.
March 15, 2023
2:46 PM